Sheridan Corporation reported the following pre-tax amounts for the year ended August 31, 2017: profit before income tax (on the company's continuing operations), $371,000; loss from operations of discontinued operations, $99,000; and gain on disposal of assets of discontinued operations, $70,000. Sheridan is subject to a 20% income tax rate. Assume that the profit before income tax of $371,000 is from $580,000 of revenue and $209,000 of operating expenses. Prepare an income statement. SHERIDAN CORPORATION Statement of Income $