Major Co. reported 2021 income of $304,000 from continuing operations before income taxes and a before-tax loss on discontinued operations of $78,000. All income is subject to a 25% tax rate. In the income statement for the year ended December 31, 2021, Major Co. would show the following line-item amounts for income tax expense and net income: Multiple Choice $56,500 and $382,000 respectfully. $76,000 and $226,000 respectfully. $56,500 and $228,000 respectfully. $76,000 and $169,500 respectively.