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What before tax amount or amounts should Amanda report

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Question - On 10-28-2020, Amanda Company committed to a plan to sell a division that qualified as a component of the entity according to GAAP regarding discontinued operations and was properly classified as held for sale on December 31, 2020, the end of the company's fiscal year. The divisions loss from operations for 2020 was $2 million. The divisions book value and fair value less cost to sell on December 31 were $3 million and $3.5 million respectively. What before tax amount or amounts should Amanda's report as loss on discontinued operations in its 2020 income statement?

Reference no: EM133067758

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