On May 1, 2020, Harlet Company approved a plan to dispose of a business segment. It is expected that the sale will occur Problem 7-1 (AICPA Adapted) on March 31, 2021. On December 31, 2020, the carrying amount of the assets of the segment was P2,000,000 and the fair value less cost of During 2020, the entity paid employee severance and relocation costs of P100,000 as a direct result of the discontinued operation. The revenue and expenses of the discontinued segment during 2020 were: Revenue Expenses January 1 to April 30 1,500,000 2,000,000 May 1 to December 31 700,000 900,000 What amount should be reported as pretax loss from the discontinued segment for 2020? 1,000,000 b. 2,000,000 700,000 d. 500,000 a. c. Proble