Gumble Corporation had income from the continuing operations of $300,000 for the year ended December 31, 2008. It as well had the given items (before income taxes):
1) Extraordinary flood loss of $150,000.
2) Loss of $60,000 on discontinuance of a division.
All items are subject to the income taxes at a 30% tax rate.
Make a partial income statement, starting with income from continuing operations.