4 HW Problems Help For the year ending December 31, 2018, Micron Corporation had income from continuing operations before taxes of $1.200,000 before considering the following transactions and events. All of the items described below are before taxes and the amounts should be considered material 1. In November 2018, Micron sold its Waffle House restaurant chain that qualified as a component of an entity. The company had adopted a plan to sell the chain in May 2018. The income from operations of the chain from January 1, 2018, through Navember was $160,000 and the loss on sale of the chain's assets was $300,000. 2. In 2018, Micron sold one of its six factories for $1,200,000. At the time of the sale, the factory had a book value of $1,100,000. The factory was not considered a component of the entity 3. In 2016, Micron's accountant omitted the 3. n 2016. Micron's accountant omited the annual adjustment for patent amortization espense of $120000. The error weas nat discovered until December 2018 Required: Prepare Micron's income statement, begining with income from continuing operations before taxes, for the year ended December 3u 2018. Assume an income tax rate of 30% Ignore EPS disclosures. (Amounts to be deducted should be indicated with a Partial Income Statement income from continuing operations belore income taxes Income from continuing operations Loss on discontinued operations