Brighton Bookstores has two divisions: books and electronics. The electronics division had another great year in...

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Brighton Bookstores has two divisions: books and electronics. The electronics division had another great year in 2024 with net sales of $9.1 million, cost of goods sold of $5.55 million, operating expenses of $1.1 million, and income tax expense of $612,500. The book division did not do as well and was sold during the year. The loss from operations and sale of the book division was $710,000 before taxes and $532,500 after taxes. Required: Prepare the multiple-step income statement for Brighton Bookstores, including the proper reporting for the discontinued book division. Note: Enter your answers in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000). Gross profit Income before tax BRIGHTON BOOKSTORES Income Statement For the Year Ended December 31, 2024 Discontinued operation: Brighton Bookstores has two divisions: books and electronics. The electronics division had another great year in 2024 with net sales of $9.1 million, cost of goods sold of $5.55 million, operating expenses of $1.1 million, and income tax expense of $612,500. The book division did not do as well and was sold during the year. The loss from operations and sale of the book division was $710,000 before taxes and $532,500 after taxes. Required: Prepare the multiple-step income statement for Brighton Bookstores, including the proper reporting for the discontinued book division. Note: Enter your answers in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000). Gross profit Income before tax BRIGHTON BOOKSTORES Income Statement For the Year Ended December 31, 2024 Discontinued operation: