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  3. during 2025, sheridan company reported income of $

During 2025, Sheridan Company reported income of $1,548,000 before income taxes and realized a gain...

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Accounting

During 2025, Sheridan Company reported income of $1,548,000 before income taxes and realized a gain of $405,200 on the disposal of assets related to a discontinued operation. The criteria for classification as a discontinued operation is appropriate for this sale. The income is subject to income taxation at the rate of 34%. The gain on the sale of the plant is taxed at 30%. Indicate an appropriate presentation of these items in the income statement.
SHERIDAN COMPANY
Partial Income Statement
For the Year Ended December 31,2025
Income before Income Tax
Income Tax
Income from Continuing Operations
Discontinued Operations-Gain on Disposal of Assets
$
Income before Income Tax
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