On January 1, 2017, Apricot Ltd

Multiple Choice

On January 1, 2017, Apricot Ltd.decided to discontinue its plastics making division.The division, considered a reportable segment, was sold on June 1, 2017.Division assets with a carrying value of $650,000 were sold for $500,000.Operating income from January 1, to May 31, 2017 for the division was $50,000.Ignoring taxes, what amount should be reported on Apricot's income statement for the year ended December 31, 2017, under the caption "discontinued operations"?

A) $200,000 gain
B) $150,000 loss
C) $50,000 gain
D) $100,000 loss