On May 1, Freeman Company agreed to sell the assets of its Footwear Division to Albanese Incorporated for ( $ 97 ) million. The sale was completed on December 31, 2024. The following additional facts pertain to the transaction: - The Footwear Division qualifies as a component of the entity according to GAAP regarding discontinued operations. - The book value of Footwear's assets totaled ( $ 65 ) million on the date of the sale. - Footwear's operating income was a pre-tax loss of $14 million in 2024. - Freeman's income tax rate is ( 25 % ). In the income statement for the year ended December 31, 2024, Freeman Company would report income from discontinued operations of:

On May 1, Freeman Company agreed to sell the assets of its Footwear Division to Albanese Incorporated for $97 million. The sale was completed on December 31, 2024. The following additional facts pertain to the transaction: - The Footwear Division qualifies as a component of the entity according to GAAP regarding discontinued operations. - The book value of Footwear's assets totaled $65 million on the date of the sale. - Footwear's operating income was a pre-tax loss of $14 milion in 2024. - Freeman's income tax rate is 25%. In the income statement for the year ended December 31, 2024, Freeman Company would report income from discontinued operations of