$\backslash$table$[[,$No$,$Date,General Journal,Debit,Credit$],[,1,\backslash$table$[[13$ September$],[20\backslash$times $1]],$Impairment loss,$1,887,],[,,$Income tax recoverable,$377,],[,,$Current assets$-$candy division,,$192],[,,$Property, plant and equipment$-$candy division,,$1,695],[,,$Income tax expense,,$377],[\%,2,\backslash$table$[[13$ September$],[20\backslash$times $1]],$Current liabilities$-$candy division,$850,],[,,$Assets of discontinued operation held for sale,$4,503,],[,,$Current assets$-$candy division,,$798],[,,$Property, plant and equipment$-$candy division,,$3,705],[,,$Liabilities of discontinued operation held for sale,,$850],[>,3,\backslash$table$[[31$ December$],[20\backslash$times $1]],$Assets of discontinued operation held for sale,$190,],[,,$Income tax expense,$38,],[,,$Impairment loss,,$190],[,,$Income tax payable,,$38],[,4,25$ February $20\backslash$times $2,$No journal entry required,,$],[,5,5$ March $20$X$2,$No journal entry required,,$],[,6,31$ March $20\backslash$times $2,$Cash$/$Receivable$,5,700,],[,,$Income tax expense,$313,],[,,$Liabilities held for sale,$850,],[,,$Payable to consultant,,$285],[,,$Gain on disposal of discontinued operation,,$1,567],[,,$Assets of discontinued operation held for sale,,$4,693],[,,$Income tax payable,,$313]]$ Assume that the after$-$tax earnings from continuing operations amounted to $$5$ million in $201.$ Prepare the Iower section of the

earnings section of the $201SCl($Enter your answers In thousands, not milllons or In whole Canadlan dollar.$).$Salamander Inc. is a food processing company that operates divisions in three major lines of food products: cereals, frozen fish, and candy. On $13$ September $20$X$1,$ the Board of Directors voted to put the candy division up for sale. The candy division$$s operating results had been declining for the past several years due to intense competition from large international players such as Nestl$$ and Cadbury.

The Board hired the consulting firm Atelier LLP to conduct a search for potential buyers. The consulting fee was to be $5\%$ of the value of any sale transaction.

By $31$ December $20$X$1,$ Atelier had found a highly interested buyer for the candy division, and serious negotiations were underway. The buyer was a food conglomerate based in Brazil; it offered $$5\mathrm{.}5$ million cash.

On $25$ February $20$X$2,$ after further negotiations, the Salamander$$s board accepted an enhanced Brazilian offer to buy the division for $$5\mathrm{.}7$ million. The Salamander shareholders approved the sale on $5$ March $20$X$2.$ The transfer of ownership took place on $31$ March $20$X$2.$

Salamander$$s income tax rate is $20\%.$ Other information is as follows $($before tax, in thousands of dollars$)$:Required:

Prepare whatever journal entries are approprlate at $13$ September $20$X$1,31$ December $201,25$

February $202,5$ March $202,$ and $31$ March $202.($If no entry is requlred for a transactlon$/$event$,$

select $"$No journal entry required" In the first account fleld. Enter your answers In thousands, not

millions or in whole Canadian dollar.$)2.$ Assume that the after$-$tax earnings from continuing operations amounted to $$5$ million in $20$X$1.$ Prepare the lower section of the earnings section of the $20$X$1$ SCI $($Enter your answers in thousands, not millions or in whole Canadian dollar.$).$