Trayer Corporation has income from continuing operations of $269,400for the year ended December 31, 2014. It also has the following items (before considering income taxes).

1.	An extraordinary loss of $71,200.
2.	A gain of $46,600on the discontinuance of a division.
3.	A correction of an error in last years financial statements that resulted in a $20,400understatement of 2013 net income.

Assume all items are subject to income taxes at a35% tax rate.

Prepare an income statement, beginning with income from continuing operations.