Question
In June 2019, Fiona Fitness announced that its line of protein shakes (a major line of business which represented 15% of Fiona's revenue) was being
In June 2019, Fiona Fitness announced that its line of protein shakes (a major line of business which represented 15% of Fiona's revenue) was being discontinued. The protein shake line was ultimately sold in early 2020. In Fiona's annual financial statements for 2019, three years of operations were presented in the income statement (2017, 2018, and 2019). Results of operations for the protein shake line would be reported AFTER income from continuing operations in the 2019 statements _________________.
Question 2 options:
For none of the years. Gains or losses from the discontinued product line would not be presented until the product line was sold in 2020.
For 2017, 2018, and 2019 results
Only for 2019 results
For 2019 results only if there was a loss from operations for the protein shake line in 2019.
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