On April 27, 20X5, ABC committed to a plan to sell a component unit. As a result, the component unit's operations and cash flows will be eliminated from ABC's operations and ABC will not have any significant post-sale involvement in the component's operations. The component was sold on December 25 for a gain of $100,000. During the period from January 1, 20X5, to April 27, 2085, the component unit had income of $150,000. However, from the period April 27 to December 25 the component suffered a loss of $50,000. Ignoring taxes, what should ABC report for discontinued operations for 20X5? a. $50,000 b. $50,000 loss c. $200,000 d. $100,000 On December 31, 20X4, Greer Co. entered into an agreement to sell its Hart segment's assets. On that date, Greer estimated the gain from the disposition of the assets in 20X5 would be $700,000 and Hart's 20X5 operating losses would be $200,000. As a result of the sale, the component's operations and cash flows will be eliminated from the entity's operations and the entity will not have any significant continuing post-sale involvement in the component's operations. The component is classified as held for sale. Hart's actual operating losses were $300,000 in both 20X4 and 20X5, and the actual gain on disposition of Hart's assets in 20X5 was $650,000. Disregarding income taxes, what net gain (loss) should be reported for discontinued operations in Greer's comparative 20X5 and 20X4 income statements? a. b. c. d. 20X5 $50,000 $0 $350,000 $(150,000) 20X4 $(300,000) $50,000 $(300,000) $200,000