2:15 Seved Help Save & Exit On -ot Co, agreed to sell the assets of its Footwear Division to Albanese Inc. for $80 million. The sale was completed on December 31, 2016. The followin additional facts pertain to the transaction: The Footwear Division qualifies as a component of the entity according to GAAP regarding discontinued operations. .The book value of Footwears assets totaled $48 million on the date of the sale. Footwear's operating income was a pre-tax loss of $10 million in 2016. . Foxtrot's income tax rate is 40 % In the 2016 income statement for Foxtrot Co., it would report income from discontinued operations of Multiple Choice $26 million $22 milion $13.2 million $92 million. Next > 4 of 28