Creating comic art style effect on an image

Start by inserting a cutout of a model.

Press Ctrl+Shift+U to desaturate.
Press Ctrl+L to open level settings. Apply settings as shown.

Duplicate the layer. Press Ctrl+I to invert the colors. Change the layer mode to "Overlay".
Select and merge both the layers. From edit menu select adjustments>>Shadow/Highlight. Apply settings as shown.
Duplicate the layer and change the layer mode to "Linear Light".

Fill the background with a solid color.

Select and merge all the layers except background layer. Press Ctrl+U to open hue/saturation window. Apply settings as shown.