On January 1, 2020, Alvarado Ltd. sold its plastics making division on June 1, 2020. Division assets with a carrying value of $812,500 were sold for $625,000. Before-tax operating income from January 1 to May 31 for the division was $62,500. Tax rate is 30%. What amount should be reported on Alvarado's income statement for the year ended December 31, 2020, under the caption "discontinued operations"? $250,000 gain $87,500 loss $62,500 gain $125,000 loss none of the above