During 2020, Blossom Company disposed of Cynthia Division, a major component of its business. Blossom realized a gain of $2940000, net of taxes, on the sale of Cynthia's assets. Cynthia's operating losses, net of taxes, were $3410000 in 2020. How should these facts be reported in Blossom's income statement for 2020?

Total Amount to be Included in

Income from Results of

Continuing Operations Discontinued Operations

$3410000 loss

$2940000 gain

470000 loss

0

0 470000 loss

2940000 gain

3410000 loss