Question 4Income Statement (15 points) Rainier Corporation had income from continuing operations ending December 31 2018 me from continuing operations before taxes of $110.000 for the year Before considering the following transactions and events. All of the items described below are before taxes and should be considered material 1. In October 2018, the company sold its Ja ctober 2018, the company sold its Jaman branch that qualified as a component of an entity. The income from The income from operations of the financial sement from January 1, 2018 through October was 528,000 and the loss on sale of the segment was $50,000. in 2016, the company's accountant omitted the annual diustment for depreciation expense of $12,000. The error was discovered in 2018. The company is subject to 30% of tax rate. 100.000 shares of common stock outstanding Required: Prepare income statement for Rainier Corporation for the year of 2018, starting with income from continuing operations before income taxes. (do not lgnore the EPS part)