On May $1,2020,$ Wheaton Company decided to dispose of its foreign sales operations $($a change which represents a strategic shift in the geographic area of Wheaton's operations$).$ The component was sold on November $24,2020,$ for $$1,100,000$ resulting in a $$166,000$ loss on the sale. The foreign sales operations recorded a $$330,000$ operating profit in $2020$ up to the date of sale. Wheaton Company is subject to a $40\%$ income tax rate.

Prepare the results from discontinued operations section of Wheaton Company's income statement for $2020.$