Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2011::
| Income from continuing operations before income taxes | 110,000 |
| Extaordinary | 28,000 |
| Conton is subject to a 3% tax rate. |
Required:
Prepare the December 31, 2011, income statement for Canton Corporation, starting with income from continuing operations before income taxes.
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