9. Sierra Inc. committed to sell its mountaineering division for $700,000 on October 1 , Year 1 . The book value of the division's net assets was $800,000. The disposal date is expected to be April 1, Year 2. Year 1 income of the division to October 1, Year 1 was a $30,000 loss, and income for the remainder of the year was a $10,000 loss. Sierra estimates that the division will lose another $25,000 during the remainder of the phase-out period in Year 2. Ignoring taxes choose the correct reporting for discontinued operations in the income statement of Sierra, Inc., for the year ended December 31, Year 1. A. Choice 1 B. Choice 2 C. Choice 3 D. Choice 4