Problem 5 - Discontinued Operations (8 marks) Heartland Furniture, which operates several furniture stores, has decided to restructure its organization. On September 18, 2021, the company decided to sell its Office Furniture segment. In preparing financial statements for the year ended December 31,2021, the following information was available: - The Office Furniture segment incurred a pre-tax loss of $440,000 for the 2021 calendar year, which includes $370,000 for the period January 1 to September 18, 2021. - At December 31, 2021, the Office Furniture segment's net assets were estimated to have a fair value of $2,100,000 (net of selling costs). The net assets have a book value of $1,950,000. - Heartland anticipates the sale of the Office Furniture segment will be completed in 2022. Heartland has a 25% income tax rate. The Office Furniture operation qualifies for reporting as a discontinued operation. Heartland follows IFRS. ineome from continued operations (A) Prepare the discontinued operations section of Heartland's income statement for the year ended December 31, 2021. (4 marks) (B) On March 24, 2022, the Office Furniture segment was sold for $2,010,000. For the first several months of 2022, the Office Furniture segment incurred a $32,000 pre-tax operating loss up to the time of sale. Prepare the discontinued operations section of Heartland's income statement for the year ended December 31, 2022. (4 marks)