Chapter 4 Part I i 3 Esquire Comic Book Company had income before tax of $1,900,000 in 2016 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $440,000. The division generated before-tax income from operations from the beginning of the year through disposal of $680,000. Neither the loss on disposal nor the operating income is included in the $1,900,000 before-tax income points the company generated from its other divisions 2. The company incurred restructuring costs of $95,000 during the year Required: Print References Prepare a 2016 income statement for Esquire beginning with income from continuing rations. Assume an income tax rate of 40%. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.) ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2016 Dis operations gain (loss) Next >