Current Attempt in Progress

For its fiscal year ending October $31,2025,$ Pharoah Corporation reports the following partial data.

Income before income taxes

$$518,400$

Income tax expense $(20\%$ x $$403,200)$

$80,640$

Income from continuing operations

$437,760$

Loss on discontinued operations

$115,200$

Net income

$$322,560$

The loss on discontinued operations was comprised of a $$48,000$ loss from operations and a $$67,200$ loss from disposal. The income tax rate is $20\%$ on all items.

$($a$)$ Prepare a correct partial income statement, beginning with income before income taxes.