Oriole, Inc. decided on January 1 to discontinue its telescope manufacturing division. On July 1, the division's assets with a book value of $1270000 are sold for $800000. Operating income from January 1 to June 30 for the division amounted to $132000. Ignoring income taxes, what total amount should be reported on Oriole's income statement for the current year under the caption, Discontinued Operations? $338000 loss $132000 loss $602000 loss $470000 loss