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.) Answer is not complete. WABASH, INC., Income Statement For Year Ended Revenues $ 480.000 OG 430,000 Expenses Income from continuing operations Discontinued operations $ 50,000 Loss on the sale of discontinued operations, net of income tax Operating income from discontinued operations, net of income tax . (18,000) 32,000 Net income $