On September 1, 2021, Jacob Furniture Mart enters into a tentative agreement to sell the assets of its Office Furniture division. This division qualifies 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 million loss before income tax. Jacob has an average tax rate of 25%.

Assume that Jacob had not yet sold the division's assets by the end of 2021. Further, assume that the fair value less cost to sell of the division's assets at December 31, 2021, was $24 million and was expected to remain the same when the assets are sold in 2022. The book value of the division's assets was $19 million at the end of 2021.

2. What would Jacob report in its 2021 balance sheet regarding the information provided for Office Furniture Division?