Marin Inc. decided on January 1 to discontinue its telescope manufacturing division. On July 1, the divisions assets with a book value of $1285000 are sold for $925000. Operating income from January 1 to June 30 for the division amounted to $214000. Ignoring income taxes, what total amount should be reported on Marins income statement for the current year under the caption, Discontinued Operations?

$214000

$146000 loss

$574000

$360000 loss

Skysong, Inc. has an investment in trading securities of $147000. This investment experienced an unrealized loss of $7700 during the current year. Assuming a 34% tax rate, the effect of this loss on comprehensive income will be

no effect.

$147000 increase.

$97020 decrease.

$49980 decrease.