On November 1, 2018, Jamison Inc. adopted a plan to discontinue its barge division, which qualifies as a separate component of the business according to GAAP regarding discontinued operations. The disposal of the division was expected to be concluded by April 30, 2019. On December 31, 2018, the company's year-end, the following information relative to the discontinued division was accumulated: Operating loss Jan. 1-Dec. 31, 2018 Estimated operating losses, Jan. 1 to April 30, 2019 Excess of fair value, less costs to sell, over book value at Dec. 31, 2018 $ 65 million 80 million 15 million In its income statement for the year ended December 31, 2018, Jamison would report a before-tax loss on discontinued operations of: $50 million. $65 million. $130 million. $145 million.