Skysong Corp. has 149,550 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,220,400. Additional transactions not considered in the $1,220,400 are as follows. 1. 2. In 2020, Skysong Corp. sold equipment for $37,000. The machine had originally cost $84,800 and had accumulated depreciation of $32,200. The gain or loss is considered non-recurring. 2.The company discontinued operations of one of its subsidiaries during the current year at a loss of $197,000 before taxes. ssume that this transaction meets the criteria for discontinued operations. The loss from operations of the discontinued subsidiary was $94,300 before taxes; the loss from disposal of the subsidiary was $102,700 before taxes. 3.An internal audit discovered that amortization of intangible assets was understated by $36,000 (net of tax) in a prior period. The amount was charged against retained earnings. 4.The company recorded a non-recurring gain of $126,200 on the condemnation of some of its property (included in the $1,220,400)