Current Attempt in Progress On September 1, 2026, Sheridan Furniture Mart enters into a tentative agreement to sell the assets of its Sheffield Furniture division. This division qualifies as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Sheridan's operating income for 2026 was a $3.7 million loss before income tax. Sheridan has an average tax rate of 20%. Assume that Sheridan sold the division's assets on December 31, 2026, for $24.7 million. The book value of the division's assets was $19.5 million at that date. What would Sheridan report in its 2026 income statement regarding the Sheffield Furniture division. (Round answer to 2 decimal places, e.g. 52.75.) Ws Sheridan would report $ million.

On September 1, 2026, Sheridan Furniture Mart enters into a tentative agreement to sell the assets of its Sheffield Furniture division. This division qualifies as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Sheridan's operating income for 2026 was a $3.7 million loss before income tax. Sheridan has an average tax rate of 20%. Assume that Sheridan sold the division's assets on December 31,2026 , for $24.7 million. The book value of the division's assets was $19.5 millionat that date. What would Sheridan report in its 2026 income stateryent regarding the Sheffield Furniture division. (Round answer to 2 decimal places, eg. 52.75.)