For Its Fiscal Year Ending December 31 2017 Conner Corporation

Essay

For its fiscal year ending December 31 2017 Conner Corporation reported the following partial data $\begin{array}{ll}\text { Income before income taxes}& \$ 1,200,000\\\text { Income tax expense \( (30 \% \times 950,000)\) }&285,000 \\\text { Income from continuing operations } & 915,000 \\ \text { Discontinued operations loss } & 250,000\\\text {Net income}& \$ 665.000 \end{array}$ The income tax rate is 30% on all items.
Instructions
Prepare a correct income statement beginning with income before income taxes.