On July 1, Year 1, the board of directors of All Seasons Sports, Inc. voted to dispose of the Ski & Snowboard operating segment of the company. On that date, the carrying value of the segment was $3,000,000, but the Board believed that it could sell the segment for no more than $2,500,000. The company was committed to its plan to sell the segment and was actively looking for a buyer until April 1, Year 2, when the division was sold to We Love Winter, Inc. for a sales price of $3,200,000. All Seasons Sports paid a brokers fee of 10% of the sales price when the transaction was closed.

Ski & Snowboard's operating results were as follows:

1/1/Year 1 6/30/Year 1 ($300,000)

7/1/Year 1 12/31/Year 1 ($400,000)

1/1/Year 2 3/31/Year 2 ($200,000)

All Seasons Sports has a tax rate of 30%.

Calculate the Gain/(Loss) from Discontinued Operations for Year 1 and Year 2:

Year 1 Year 2

Impairment Gain/(Loss)

Operating Gain/(Loss)

Gain/(Loss) on Disposal

Income Tax Benefit/(Expense)

Total Gain/(Loss) from Discontinued Operations