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Prepare a partlal income statement for 2024 beginning with income from continuing operations. Ignore EPS disclosures. Note: Amounts to be deducted should be indicated with a minus sign. Prepare a partial income statement for 2024 beginning with income from continu Note: Amounts to be deducted should be indicated with a minus sign. Prepare a partial income statement for 2024 beginning with income from continuing operations. Assume that the estimated net fair value of the horse division's assets was $700,000, instead of $350,000. Ignore EPS disclosures. Note: Amounts to be deducted should be indicated with a minus sign. Kandon Enterprises, Incorporated, has two operating dlvisions; one manufactures machinery and the other breecfs and selis horses Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and, on November 15, 2024, Kandon adopted a formal plan to scli the division. The sale was completed on Aptil 30 . 2025. At December 31, 2024, the component was considered held for sale. Consider the following: - On December 31, 2024, the company's fiscal year-end, the book value of the assets of the horse division was $405,000, On that date the fair value of the assets, less costs to sell, was $350,000 - The before-tax loss from operations of the division for the year was $290,000 - The after tax income from continuing operations for 2024 was $550,000 - The company's effective tax rate is 25% Required: 1. Prepate a partial income statement for 2024 beginning with income from continuing operations. Ignore EPS disclosures. 2. Prepare a partial income statement for 2024 beginning with income from continuing operations. Assume that the estimated net fair value of the horse division's asseis was $700,000, instead of $350,000. ignore EPS disclosures

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