ters 4 and 5) 6 The following information applies to the questions displayed below.] On September 1, 2018, Jacob Furniture Mart enters into a tentative agreement to sell the assets of its office equipment division. This division qualifies as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Jacob's operating income for 2018 was a $3 million loss before taxes. Jacob has an average tax rate of 30%. Scenarlo 1: Assume that Jacob sold the division's assets on December 31, 2018, for $24 million. The book value of the division's assets was $19 million at that date. Under these assumptions, what would Jacob report in its 2018 income statement regarding the office equipment division? (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).) Prev 1 2 3 of 17 Next >