October 31, 2UZU PROBLEMS 1. (WORTH 5 POINTS IF CORRECT) During the year ended December 31, year 8, Dalgiesh Co. had sales of $1,500, cost of goods sold of $800, and sales, general and administrative expenses of $200. In addition, Dalgiesh is involved in a restructuring process expected to last several years, and incurred restructuring costs in year 8 of $125. During the year the company also sold various investments for a net pre-tax gain of $125, and received S40 in dividends from investments What amount of operating and nonoperating income will Dalgiesh present in its year 8 income statement? 2. (WORTH 10 POINTS IF ANSWERED CORRECTLY) I On September 1, 2021, Jacob Furniture Mart enters into a tentative agreement to sell the assets of its Office Furniture division. This division qualifies as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Jacob's operating income for 2021 was a $4.00 million loss before income tax Jacob has an average tax rate of 25% Assume that Jacob sold the division's assets on December 31, 2021. for $200 million. The book value of the division's assets was $19.90 million at that date. Required: What would Jacob report in its 2021 income statement regarding the Office Furniture divisiom? (Enter your answer in millions rounded to 2 decimal places fie, 5,500,000 should be entered as 5.50).) 19 hip