Business, 26.02.2020 02:21 jdkrisdaimcc11

On May 31, 20X1, the Arlene Corporation adopted a plan to sell its cosmetics line of business, considered a component of the entity. By the end of the year, the assets have not been sold. The book value of those assets equals $850,000, and the company estimates their fair value to be $1,100,000. The component generated operating income of $450,000 for the year. In its income statement for the year ended December 31, 20X1, for what amount would the company report income from operations of a discontinued component (ignoring taxes).

a. $300,000
b. $550,000
c. $450,000
d. $700,000

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On May 31, 20X1, the Arlene Corporation adopted a plan to sell its cosmetics line of business, consi...