On September 1, 2024, 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 2024 was a $2.40 million loss before income tax. Jacob has an average tax rate of 25% Assume that Jacob had not yet sold the Office Furniture division by the end of 2024. Further, assume that the fair value less cost to sell of the division's assets on December 31, 2024, was $11.40 million and was expected to remain the same when the assets are sold in 2025. The book value of the division's assets was $18.46 million at the end of 2024. Required: 57 1. What would Jacob report in its 2024 income statement regarding the Office Furniture division? 2. What would Jacob report in its 2024 balance sheet regarding the information provided for the Office Furniture Division? Note: Enter your answer in millions rounded to 1 decimal place (l.e., 5,500,000 should be entered as 5.5). Cells should not be left blank. 1. Operating gain from discontinued operations 2 Property, plant, and equipment for office furniture division million million