PERS 5 states that a non-current asset that is to be abandoned should not 1 point be classified as held for sale because Its carrying amount will be recovered principally through continuing use It is difficult to value It is unlikely that the non-current asset will be sold within 12 months It is unlikely that there will be an active market for the non-current asset 1 point How much will be reported as loss from ordinary activities of the discontinued segment during 20X3? On June 1, 20X3, Starlet Company approved a plan to dispose of a business segment. It is expected that the sale will occur on April 30, 20X4. On December 31, 20X3, the carrying value of net assets of the segment was P4,000,000 and the net recoverable amount was P3, 600,000. During 20X3, the company paid employees severance and relocation costs of P200, 000 as a direct result of the discontinuing operation. The revenues and expenses of the discontinuing segment during 20x3 were: Revenues Expenses January 1 to June 1 3,000,000 4,000,000 June 1 to December 31 1,400,000 1,800,000 Income tax rate is 35% O 1,000,000 0 1,300,000 O 1,600,000 2,000,000