Calloway Company adopted a plan to discontinue its cart division on June 30, 20x1. The cart division qualifies as a separate component of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by February 28, 20x2. On December 31, 20x1, the company's year-end, the following information relative to the discontinued division was accumulated:Operating loss Jan. 1Dec. 31, 20x1 $ 72 millionEstimated operating losses, Jan. 1 to February 28, 20x2 92 millionExcess of fair value, less costs to sell, over book value of the cart divisions assets at Dec. 31, 20x1 15 millionWhat is the amount of before-tax loss that Calloway should report in its income statement for the year ended December 31, 20x1 on its discontinued operations?

$149 million.

$57 million.

$72 million.

$164 million.

The accounting manager at Princess Corporation is preparing the related-party disclosure for their financial statements. Which of the following should not be included in this disclosure?

A description of the transactions.

The nature of the relationship.

The amounts due from or to related parties.

The impact of the transactions on current year's income.