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What fi statement of financial performance for the year

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Reference no: EM132560317

Question 1: During 2020, Fun Inc.(FI) decided to dispose of Sad Division (SD), considered a separate reportable segment. The only asset SD owns is the building. The fair market value of the building is estimated to be $150,000. Assume no selling costs will be incurred. The building is estimated to have remaining useful life of 10 years; the original cost was $300,000; and it was 40% depreciated. SD's operating income from January 1 to April 30 was $45,000. FI's tax rate is 30%, and it follows IFRS. FI's Statement of Financial Performance for the year ended December 31, 2020 should report

Select one:

Option a. the $31,500 operating income and the $21,000 loss in the discontinued operations section of the income statement

Option b. the $31,500 operating income in the body of the income statement and the $21,000 loss in the discontinued operations section of the income statement.

Option c. the $45,000 operating income and the $30,000 loss in the discontinued operations section of the income statement.

Option d. the $45,000 operating income in the body of the income statement and the $30,000 loss in the discontinued operations section of the income statement

Reference no: EM132560317

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