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Sandhill Corporation reported the following pre-tax amounts for the year ended August 31, 2021: profit before income tax (on the company's continuing operations), $390,000; loss from discontinued operations, $104,000, and gain on disposal of assets of discontinued operations, $73,000. Sandhill is subject to a 20% income tax rate. Assume that the profit before income tax of $390,000 is from $610,000 of revenue and $220,000 of operating expenses. Prepare an income statement SANDHILL CORPORATION Statement of Income August 31, 2021 Profit from Continuing Operations Y $ Revenues Operating Expenses Income Tax Expense T $ $