The following information has been obtained for Sandhill Corporation.

1.		Prior to 2017, taxable income and pretax financial income were identical.
2.		Pretax financial income is $1,747,000 in 2017 and $1,434,000 in 2018.
3.		On January 1, 2017, equipment costing $1,304,000 is purchased. It is to be depreciated on a straight-line basis over 5 years for tax purposes and over 8 years for financial reporting purposes. (Hint: Use the half-year convention for tax purposes, as discussed in Appendix 11A.)
4.		Interest of $54,000 was earned on tax-exempt municipal obligations in 2018.
5.		Included in 2018 pretax financial income is a gain on discontinued operations of $195,000, which is fully taxable.
6.		The tax rate is 35% for all periods.
7.		Taxable income is expected in all future years.

Prepare the bottom portion of Sandhills 2018 income statement, beginning with Income from continuing operations before income taxes. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Sandhill Corporation Income Statement (Partial)

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