Background Diversified Holdings Inc. (DHI), a calendar-year company, operates three separate businesses. In September 2014, DHI decided to make a strategic shift in its business and sell its candy segment because its revenues and earnings were declining due to health-conscious consumers. The Chocolate House (TCH) subsidiary represents the entire candy segment. You have been asked to help determine the appropriate accounting treatment related to this decision. In your analysis, you should consider the following additional information: DHI engaged a broker to help determine the value of the candy segment and to help locate a buyer. The broker indicated that given the age of the property, plant and equipment, the candy segment likely could be sold in less than a year if the offering price was $200 million. This offering price would also allow DHI to fully recover the cost of TCHs inventory. DHI considered this a reasonable value for these operations. DHI obtained Board approval to sell TCH for $200 million in November 2014. The Board was informed that the estimated cost of selling TCH was $10 million. On December 1, 2014, DHI publicly announced its intention to dispose of its candy segment. At this time, DHI informed the broker that TCH was available for immediate sale. Prior to year-end, the broker was actively seeking buyers. Management has concluded that TCH should be accounted for as a discontinued operation. Relevant financial information as of December 31 is provided on the following page for DHI and TCH. All intercompany eliminations are already reflected in DHIs consolidated financial information. The effective income tax rate in both 2013 and 2014 is 50%. For purposes of this analysis, do not consider any required segment disclosures.

Provide and record the journal entries required for TCHs remeasurement.