On may 1, foxtrot co. agreed to sell the assets of its footwear division to albanese inc. for $80 million. the sale was completed on december 31, 2016. the following additional facts pertain to the transaction: • the footwear division qualifies as a component of the entity according to gaap regarding discontinued operations. • the book value of footwear's assets totaled $48 million on the date of the sale. • footwear's operating income was a pre-tax loss of $10 million in 2016. • foxtrot's income tax rate is 40%. in the 2016 income statement for foxtrot co., it would report: income (loss) on its continuing operation only. income and gains separately from losses. income (loss) from its continuing and discontinued operations separately. income (loss) on its total operations for the year without separation. 1 points save answer

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times