Violet Bick Corporation owns a number of cruise ships and a chain of hotels. The hotels, which have not been profitable, were discontinued on September 1, 2014. The 2014 operating results for the company were as follows.

Operating revenues .................€12,900,000
Operating expenses ....................8,700,000
Operating income .....................€ 4,200,000

Analysis discloses that these data include the operating results of the hotel chain, which were operating revenues €2,000,000 and operating expenses €2,500,000. The hotels were sold at a gain of €300,000 before taxes. This gain is not included in the operating results. In 2014, the company had other expense of €200,000, which is not included in the operating results. The corporation is in the 30% income tax bracket.

Instructions
Prepare a condensed income statement.