In each of the following circumstances, determine whether the disposal situations would qualify as a discontinued operation. Give citations from the ASC to justify your answer.

3. An entity operates restaurants in several states. For that entity, each restaurant comprises operations and cash flows that can be clearly distinguished from the rest of the entity. As a result of an above market offer for two of its restaurants in the state of Alabama, the entity sold these restaurants. These two restaurants produced approximately 1.5% of the entitys total revenues and comprised about 1% of the entitys total assets.