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On September 1, 2021, Jacob Furniture Mart enters into a tentative agreement to sell the assets of its Office Furniture division. This division qualities as

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On September 1, 2021, Jacob Furniture Mart enters into a tentative agreement to sell the assets of its Office Furniture division. This division qualities as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Jacob's operating income for 2021 was a $3.40 million loss before income tax Jacob has an average tax rate of 25% Assume that Jacob sold the division's assets on December 31, 2021, for $24.40 million. The book value of the division's assets was $19.36 million at that date. Required: What would Jacob report in its 2021 income statement regarding the Office Furniture division? (Enter your answer in millons rounded to 2 decimal places (ie, 5,500,000 should be entered as 5.50).) Income from discontinued operations million

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