Wray Company has income before income taxes of $350,000 and a loss on disposal of a discontinued operation of $70,000. If the income tax rate is 30%, the income statement should show "Income from continuing operations" and "Loss on disposal of discontinued operation", respectively, of:

Select one:

a. $350,000 and ($70,000)

b. $245,000 and ($70,000)

c. $245,000 and ($49,000)

d. $350,000 and ($49,000)