Answer:
                      Canton Corporation
             Income Statement for December 31, 2016
                                                    $
income from continuing operations before income taxes   110,000
Less: Income Tax 30% Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 38,500
Income from continuing operations                     71,500
Gain on disposal of discontinued component      28,000
Tax on disposal of discontinued component       (8,400)
Loss from operations of discontinued component (50,000)
Net loss from discontinue operations                   (30400)
Total Comprehensive Income                          41,100