QUESTION 12 LLL, Inc. decided on January 1 to discontinue its spaceship manufacturing division. On July 1, the division's assets with a book value of $1,260,000 are sold for $900,000. Operating income from January 1 to June 30 for the division amounted to $195,000. Ignoring income taxes, what total amount should be reported on LLL, Inc.'s income statement for the current year under the caption, Discontinued Operations? $195,000 $165,000 loss $360,000 loss $555.000