10 Saved ay 1, Foxtrot Co. agreed to sell the assets of ts Footwear Division to Albanese Inc. for $80 million. The sale was completed on December 31, 2016 ollowing additional facts pertain to the transaction e Footwear Division qualifies as a component of the entity according to GAAP regarding discontinued operations e book value of Footwears assets totaled $48 million on the date of the sale otwears operating income was a pre-tax loss of $10 million in 2016 octrot's income tax rate is 40%. he 2016 income statement for Foxtrot Co. t would report income from discontinued operations of Multple Choice $22 million $26 million $13 2 million. $9 2 milion