Intermediate Accounting

Hewlett Inc.'s manufacturing division lost $140,000 (net of tax) for the year ended

December 31, 2017. Hewlett estimates that it can sell the division at a loss of

$190,000 (net of tax). The division qualifies for treatment as a discontinued operation.

Required: (2 marks each)

a) Explain how the discontinued operation would be measured and presented on the income

statement and balance sheet under ASPE.

b) Explain how your answer to part (a) would be different if Motivated prepared financial

statements in accordance with IFRS.