Vance Company has decided to discontinue a component of its business but, when the reporting period ends, the component has not yet been sold. The amount that the company would report as income from discontinued operations is $($ignore tax effects$)$:

Multiple Choice

income from operations for the year and the amount by which the component$$s fair value less cost to sell is less than book value.

income from operations for the year and the amount by which the component$$s fair value less cost to sell is greater than book value.

only the amount by which the component$$s fair value less cost to sell is less than book value.

only the component$$s income from operations for the year.