Atanak Inc

Essay

Atanak Inc., decided to dispose of its auto parts segment on March 1, Year 1 for $200,000 (book value of net assets, $150,000). The disposal date is June 1, Year 2. Income of the segment for the first two months of Year 1 was $33,000; but for the remainder of Year 1 was a loss of $107,000. Estimated income for Year 2 to the disposal date is $64,000.
Required: Ignoring taxes, calculate the income or loss from discontinued operations and any gain or loss from the disposal of discontinued operations on the income statement of Atanak, for the year ended December 31, Year 1.