For purposes of discontinued operations, the key elements in determining that a separate segment exists are that the component is in a separate geographic region and can be sold. a separate business and a separate legal entity. a separate legal entity and generates its own net cash flows. a separate business and generates its own cash flow. Accumulated other comprehensive income would be reported in shareholders' equity. retained earnings. net income from continuing operations. net income. At year end, other comprehensive income is closed out to net income. retained earnings. accumulated other comprehensive income. share capital