Operating revenues $12850000Operating expenses 8700000Operating income $ 4150000

Operating revenues $12850000Operating expenses 8700000Operating income $ 4150000Analysis
discloses that these data include the operating results of the hotel
chain which were: operating revenues $2000000 and operating expenses
$2400000.The hotels were sold at a gain of $200000 before taxes. This
gain is not included in the operating results. During the year Cheaney
suffered an extraordinary loss of $800000 before taxes which is not
included in the operating results. In 2008 the company had other
revenues and gains of $100000 which are not included in the operating
results. The corporation is in the 30% income tax bracket.Instructions:Complete the condensed income statement.