reporting discontinued operations - disposal in subsequent year

Reporting Oiscontinued Operations-Disposal in Subsequent Year On October 1 of the current year, Elain Company approved a formal plan to sell the Mckay Division, considered a component of the business. The sale will occur on March 31 of the following year. The divsion had operating income of $800,000 (pretax) for the year ended December 31 , buk expects to incur an operating loss of $160,000 for the first quarter of next year. Bian Weighted average number of common shares outstanding in the current year is 500,000 : Mequired a. Assume BLin Companys income from continuing operations is s3,680,000 (after tam in then current year, Prepare a partial income statement beginning wihh income from contiouing operations, include earningr per share disclosures. - Uie a necative sion to indicate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nesreut penny. - Use a negative sign to indicate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny. b. How does the answer to part a change if the fair value of the Mckay Division's net assets were 58.320 .000 instcad of 57.680,000 on December 31 ? - Use a negative sign to indicate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny