pero 14 On May 1, Foxtrot Co. agreed to sell the assets of its Footwe Division has been for $20 completed on December 31, 2021 The following additional facts pertain to the transaction 3 100% The Footwear Division qualities as a component ol the ently according to GAAP regeling scene operations The book value of Footwear's assets totaled $48 million on the date of the sale Footwear's operating income was a pre-tax loss of $10 million in 2023 Foxtrot's income tax rate is 25% . In the income statement for the year ended December 31 2021, Fatret Co would report comes operations of Pe Choice