Exercise 13-1 Your answer is partially correct. Try again. Utech Company has income before irregular items of $310,000 for the year ended December 31, 2014. It also has the following items (before considering income taxes): (1) an extraordinary fire loss of $60,000 and (2) a gain of $30,000 from the disposal of a division. Assume all items are subject to income taxes at a 30% tax rate Prepare Utech Company's income statement for 2014, beginning with "Income before irregular items. UTECH COMPANY Partial Income Statement For the Year Ended December 31, 2014 Income before Irregular Items 310000 Extraordinary Itenm Fire Loss -42000 Discontinued Operations Gain from Disposal of Division 21000 Net Income/(Loss) 289000 LINK TO TEXT