Reference no: EM132816004

The following information for 2022 is provided by Kaya Mo Yan Company:

Sales 20,000,000

Cost of goods sold 12,000,000

Selling expenses 1,200,000

General and administrative expenses 1,800,000

Interest expense 1,500,000

Gain on early extinguishment of long-term debt 500,000

Correction of inventory error, net of income tax - credit 800,000

Investment income - equity method 600,000

Gain on sale of investment 2,000,000

Income tax expense 2,100,000

Dividends declared 2,500,000

Problem 1: What was the 2022 income from continuing operations?