4 Homework Help Save & Exit Exercise 4-7 Income statement presentation; discontinued operations; restructuring costs (LO4-1, 4-3, 4 Esquire Comic Book Company had income before tax of $1,650,000 in 2018 before considering the following material tems 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting The before-tax loss on disposal was $415,000. The division generated before-tax income from operations from the principles. beginning of the year through disposal of $630,000. Neither the loss on disposal nor the operating income is included in the $1,650,000 before-tax income the company generated from its other divisions 2. The company incurred restructuring costs of $70,000 during the year Prepare a 2018 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 40% Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.) Partial Income Statement Income fronm Discontinued operations gain (loss) MacBook A 8