E 3-9 Discontinued operations; disposal in subsequent year OLO3-5 Prepare a 2023 statement of profit or loss for Esquire ations. Assume an income tax rate of 20%. Ignore EPS disclosures. Kandon Enterprises Ltd has two operating divisions, one manufactures machinery and the other breeds and sells horses. Both divisions are considered separate components as defined by IFRS. The horse division has been unprofitable, and on November 15, 2023, Kandon adopted a formal plan to sell the division. The sale was completed on April 30, 2024. As at December 31, 2023, the component was considered held for sale. On December 31, 2023, the company's financial year-end, the book value of the assets of the horse division was $250,000. On that date, the fair value of the assets, less costs to sell, was company's effective tax rate is 20%. The after-tax profit from continuing operations for 2023 was $200,000. The before-tax loss from operations of the division for the year was $140,000. The $400,000. Required: 1. Prepare a partial statement of profit or loss for 2023 beginning with profit from continuing operations. Ignore EPS disclosures. 2. Repeat requirement 1 assuming that the estimated net fair value of the horse division's assets was $400,000, instead of $200,000. sell one of its divisions that