Wabash, Inc., had revenue and expenses $($Including income tax$)$ from ongoing business operations for the current

year of $$480,000$ and $$430,000,$ respectively. During the year, the company sold a division of the company that

had revenue and expenses $($not included in the previous figures$)$ of $$100,000$ and $$75,000,$ respectively. The

division was sold at a loss of $$55,000.$ All items are subject to an income tax rate of $40$ percent.

Prepare an abbreviated Income statement for Wabash for the year. $($Enter all losses with a minus sign.$)$