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On September 1 , 2 0 2 6 . Crane Furniture Mart enters into a tentative agreement to sell the assets of its Bramble Furniture
On September Crane Furniture Mart enters into a tentative agreement to sell the assets of its Bramble Furniture division. This division qualifies as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Crane's operating income for was a $ million loss before income tax. Crane has an average tax rate of
Assume that Crane sold the division's assets on December for $ million. The book value of the division's assets was $ million at that date. What would Crane report in its income statement regarding the Bramble Furniture division. Round answer to decimal places, eg
Cranewould report$ million.
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