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What is the net income from discontinued operations

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Question - Assume that Bramble Inc. decided to sell DemandTV Ltd., a subsidiary, on September 30, 2020. There is a formal plan to dispose of the business component, and the sale qualifies for discontinued operations treatment. Pertinent data on the operations of the TV subsidiary are as follows: loss from operations from beginning of year to September 30, $2.1 million (net of tax of $700,000); loss from operations from September 30 to end of 2020, $700,000 (net of tax of $250,000); estimated loss on sale of net assets to December 31, 2020 (net of tax of $50,000), $120,000. The year end is December 31. Bramble prepares financial statements in accordance with IFRS.

What is the net income/loss from discontinued operations reported in 2020?

Reference no: EM132437333

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