Sierra Mountain Gear Ltd. had retail operations throughout most of Canada. In 2012, the company decided to sell all of its stores in the western provinces to a competitor; however, the sale was not completed by the end of the year. While compiling the financial statements for the year ended December 31, 2012, the company€™s new controller prepared the following information relating to these discontinued operations. He believes that this information satisfies the requirements of IFRS;

Required:
Identify three deficiencies in the presentation or disclosure relating to the discontinued operations.

($000's) 2012 2011 Income statement (excerpt) Earnings before interest and taxes Interest expense Income from discontinued operations (Note 13) Income before taxes Income tax expense Net income $22,800 3,960) 7860 26,700 (8,010) $18,690 S24,630 (4,550) 8,540 28,620 (8,586) $20,034 Note 13-discontinued operations Pre-tax profit Income tax expense After-tax profit $7,860 (2,358) S5,502 $8,540 (2,562) $5,978