Assume that Blue Spruce Inc. decided to sell DemandTV Ltd., a subsidiary, on September 30, 2017. There is a formal plan to dispose of the business component, and the sale qualifies for discontinued operations treatment. Pertinent data on the operations of the TV subsidiary are as follows: loss from operations from beginning of year to September 30, $2.1 million (net of tax); loss from operations from September 30 to end of 2017, $800,000 (net of tax); estimated loss on sale of net assets to December 31, 2017 (net of tax), $160,000. The year end is December 31. Blue Spruce prepares financial statements in accordance with IFRS.

REQUIRED:

1. What is the net income/loss from discontinued operations reported in 2017?

2. Prepare the discontinued operations section of the income statement for the year ended 2017?