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Byron inc decided on aug 1 to dispose of a component of its business. The component was sold on nov 30, 2011. byrons income for 2011 included income of $250,000 from operating the discontinued segment from january 1 to the sale date. byron incurred a loss on the nov 30 sale of $220,000. ignoring income taxes, what amount should be reported in the 2011 income statement as the net income or loss under "discontinued operations?
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Provide detailed descriptions and show all calculations
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