Sandhill Ltd. has profit from continuing operations of $220,000 for the year ended December 31, 2017. It also has the following before considering income tax: a net gain of $70,000 from the discontinuance of a component of the entity, which includes a $106,000 profit from the operation of the segment and a $36,000 loss on its disposal.

Assume that the income tax rate on all items is 33%.

Prepare a partial income statement, beginning with profit from continuing operations, using the all-inclusive format.