Problem I (10 ponts): (0) voted to dispose of the On July 1, Year 1, the hoard of directors of All Sersons company was committed to its plan Ski \& Snowboard operating segment of the company. The company was commith $2,500,000, and to sell the segment, believed that the segment could be sold for no was sold to We Love Winter was actively looking for a buyer. On April 1, Year 2, the division was sold to We Love Wers of 10 percent of the Inc. for a sales price of $3,200,000. All Seesons Sports paid a brokers fee of 10 percent of the 30 percent. sales price when the transaction was closed. All Seasons Sports hations for Year 1 and Year 2, In order to calculate the Gain/(Loss) from Inc. to provide you with the needed information. you asked the accountant of All Seasons Sports inc. to provide youl with the accomplishing your task. The accountant sent you the following information provided to you to calculate the gain/(loss) from discontinued operations for Year 1 and Year 2. Your answers must be entered in the provided table indicating amounts that correspond to each item listed. Losses and expenses must be entered in between brackets. The accountant wrote: "I have compiled the information you requested regarding the sale of the Ski \& Snowboard Operating segment. I pulled income statements for Years 1 and 2 for this particular segment so we will have an idea of what to report in the financial statements. In case you are interested, of the $700,000 loss in Year 1,$300,000 of it occurred prior to the decision to sell the segment (from January - June, Year 1). The remaining loss of $400,000 occurred after the decision to sell (July - December, Year 1). I have also produced the summarized segment balance sheet (assets and liabilities only) for the segment in Year 1." All Seasons Sports Inc. Segment Summary Balance Sheet Ski \& Snowboard As of \begin{tabular}{lr} & 12/31/ Year 1 \\ \cline { 2 - 2 } Current assets & $1,255,000 \\ Long-term assets & 4,670,000 \\ \cline { 2 - 2 } Total assets & $5,925,000 \end{tabular} Current liabilities $750,000 \begin{tabular}{lr} Long-term liabilities & 2,175,000 \\ Total liabilities & $2,925,000 \\ \hline \end{tabular}