Tiger Company€™s accountant for the prepared comparative income statements for 2016 and 2017 as follows:
Comparative Income Statements
For Years Ended December 31

Tiger Company€™s auditor reviewed the accounting records and income statements and discovered the facts described in Items 1 and 2 below. All amounts incurred during 2016 and 2017 are included in the preceding statements.
1. Included in the category €œOther Items€ (along with other smaller miscellaneous items) were the following:
a. A loss of $60,000 in 2016 that was considered to be unusual
b. A $150,000 loss in 2017 from an unusually large write-down of inventory because of obsolescence
c. A $250,000 gain in 2016 that was considered to be unusual
2. On July 1, 2017, Tiger has announced its intention to sell its backscratcher division. This division is considered a major component of the company. Operating results for this division are included in the company€™s overall operating results for 2016 and 2017, as shown previously, and are as follows:

The division had not been sold by the end of 2017, so the company classified it as held for sale. The division consisted of the following items with book values and fair values on December 31, 2017:

Required:
Prepare corrected comparative income statements for 2017 and 2016 for Tiger. Ignore earnings per share.

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2017 2016 Sales Cost of goods sold Gross profit Operating expenses Operating income Other items Income before income taxes Income tax expense (30%) Net income $3,500,000 $4,600,000 600,000) 2,000,000 1,500,000 500,000 100,000 1。600,000 1,900,000 (1,300,0 600,000 120,0 280,000 180 420,000 2017 7/1-12/31) $200,000 300,000 100,000 2017 1/1-6/30) $400,000 320,000 180,000 2016 Sdles Cost of goods sold Operating expenses 3 $700,000 290,000 110,000 Book Value Fair Value $620,000 510,000 ltem Assels Liabilities $720,000 450,000