point On September 30, 20X3, when the carrying amount of net assets of segment C was P7.000.000, X Company signed a binding contract to sell segment C for P12,000,000. The sale is expected to be completed by January 31, 20X4. In addition, prior to January 31, 20X4, the sale contract obliges X Company to terminate certain employees of segment C incurring termination cost of P2,000,000 to be paid on June 30, 20X4. The company continued to operate segment C throughout 20X3. Revenue of segment C throughout 20x3 was P8.000.000, operating cost was P4.000.000. How much income should be reported as income from ordinary activities of discontinued segment for 20X3, before tax? None 2,000,000 7,000,000 8,000,000 1 point On December 31, 20X3, Condor Company committed to a plan to sell a manufacturing facility in its present condition and classifies the facility as held for sale at this date. After a firm purchase commitment is obtained the buyer's inspection of the property identifies environmental damage not previously known to exist. Condor Company is required by the buyer to make good the damage, which will extend the period required to complete the sale beyond one year. However, the entity has initiated actions to make good the damage, and satisfactory rectification of the damage is highly probable. On December 31, 20X3, the carrying value of the facility is P4.000.000 and its fair market value is P3,600,000.In its December 31, 20x3 statement of financial position. Candor Company should properly report this manufacturing facility as: Should no longer be included in the December 31, 20x3 balance sheet Should be included among the property, plant and equipment at P4,000,000 Should be included among the property, plant and equipment at P3,600,000 Should be reported separately as non-current asset held for disposal and valued at P3,600,000