How much is the loss from discontinued operations

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Question - On April 1, 2020 AC Corp. approved to dispose of a component of its operations. The disposal meets the criteria for classification as discontinued operation. From January 1 to April 30, 2020, the component earning operating profit of P 100,000 and from May to December 31, 2020, the segment suffered operating losses of P 50,000. The net assets of the component has a carrying amount of P 8,000,000 as of April 30, 2020. The fair value less cost to sell of the component is P 6,500,000. Additional estimated disposal loss includes separation pay of employees of P 55,000 and employee relocation costs of P 25,000, both of which are directly associated with the decision to dispose the segment.

Required - How much is the loss from discontinued operations that is to be reported by ABC Corp. in the statement of comprehensive income for the year ended December 31, 2020?

Reference no: EM132857831

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