N O P A B C D E F G H I J K L M Peter Gilgen & Co., (PG & Co.) reports the following footnote relating to its discontinued operations from its 2019 10-K annual report. 1 5. 2 tonooo 3 Management's Discussion & Analysis Recent Developments: In May 2019, we completed the divestiture of our snacks business to The K Cereal Company. In accordance with the applicable accounting guidance for the disposal of long-lived assets, the results of our snacks business are presented as discontinued operations and, as such, have been excluded from continuing operations and from segment results for all periods presented. As a result of this change, the pet care business is now included in the Fabric Care and Home Care segment. 10 A. What are discontinued operations? 11 12 13 B. Describe the accounting treatment in the income statement according to GAAP for discontinued operations. 14 15 16 C. How should the results of the operations of the discontinued segment be interpreted when evaluating the financial performance for PG & Co. for 2018 and 2019? 17 18 19 20 HW 8 - Excel Sign in - 0 X File Formulas Data Review View Help Tell me what you want to do Share = = AutoSum - ASS= Home Insert Draw Page Layout Calibri V 11 VAA = Paste B I U. .. A Clipboard Font s B14 : fe Wrap Text Merge & Center - General $ . % 20 Conditional Format as Cell Formatting Table Styles Styles Insert Delete Format - Clear Sort & Find & Filter - Select Editing Alignment Nurnber Cells A B C D E F G H I J K L M Peter Gilgen & Co., (PG & Co.) reports the following footnote relating to its discontinued operations from its 2019 10-K annual report. N O P Q R S A 1 5. 2 3 Management's Discussion & Analysis Recent Developments: In May 2019, we completed the divestiture of our snacks business to The K Cereal Company. In accordance with the applicable accounting guidance for the disposal of long-lived assets, the results of our snacks business are presented as discontinued operations and, as such, have been excluded from continuing operations and from segment results for all periods presented. As a result of this change, the pet care business is now included in the Fabric Care and Home Care segment. 8 10 A. What are discontinued operations? 11 Snacks business 12 13 B. Describe the accounting treatment in the income statement according to GAAP for discontinued operations. 16 C. How should the results of the operations of the discontinued segment be interpreted when evaluating the financial performance for PG & Co. for 2018 and 2019? 19 Q1 Q2 Q3 04 05 Ready B @ - - + 100% ne A ENG 1705 AM - 12:05 AM 4/3/2020 Type here to search r A E NG 1