Smith Corp has a tax rate of 20 percent and income before non-operating items of $2,000,000. It also has the following items (gross amounts). Unusual gain $ 100,000 Loss from discontinued operations 800,000 Dividend revenue 50,000 Income increasing because of prior period adjustment 300,000 What is the amount of income tax expense Smith would report on its income statement under income tax expense? O $386,000 $310,000 O $400,000 O $430,000