MS-30. Discontinued Operations Campbell Soup reported discontinued operations in its Form 10-Q for the third quarter ended April 28, 2019. The company reported that, during the third quarter, it sold its Garden Fresh Gourmet business for approximately $55 mi llion and also signed a definitive agreement for the sale of Bolthouse Farms for

$5 10 million and expects to close the deal before July 201 9. The company disclosed the following related to these discontinued operations($ millions).

For the Nine Months Ended Net sales .............................. . .. • .... .. . .... .
Earnings (loss) from operations, after-tax ....... . . .. ...... •. .
Loss on sale of businesses, net of tax .......•.. • .... . .....•.
Loss from discontinued operations .......... • ..•.... • .. • .. • .
April 28, 2019 $666 $(279)
(52)
$(331)

a. Which of the fo llowing best describes how Campbell Soup reported the Holthouse transaction?
i. Campbell Soup will report the Holthouse unit as discontinued operations in the quarter in which the unit is formally sold.
ii. Campbell Soup reported the Bolthouse unit as discontinued operations in the April 28, 2019, income statement even though the unit had not been formally sold by then.
111. Campbell Soup will retroactively report the Holthouse unit as discontinued operations in the year in which the unit is formally sold.
iv. Campbell Soup will pro-rate the effects of the Bolthouse unit sale (as discontinued operations)
event among the fiscal quarters in the year in which the unit is formally sold.

b. What amount of sales revenue did Campbell Soup earn from Garden Fresh Gourmet and Bolthouse for the fi rst three quarters of fiscal 2019?

c. What amount of earnings did Campbell Soup report from Garden Fresh Gourmet and Bolthouse for the first three quarte rs of fiscal 2019?

d. What was the combined selling price for Garden Fresh Gourmet and Bolthouse Farms?

e. Ignoring tax effects, what is the approximate combined net book value of Garden Fresh Gourmet and Bolthouse Farms at the date of their respective disposals?