INCOME TAX 25 % Esquire Comic Book Company had income before tax of $1,150,000 in 2021 before consid

INCOME TAX 25 % Esquire Comic Book Company had income before tax of $1,150,000 in 2021 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted account principles. The before-tax loss on disposal was $355,000. The division generated before-tax income from operations from the beginning of the year through disposal of $530,000. 2. The company incurred restructuring costs of $70,000 during the year. Required: Prepare a 2021 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 2 Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2021

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