On May 25, 2010, Homburg Invest Inc. sold its portfolio of Canadian income-producing investment properties. For the year ended December 31, 2010, it reported a loss of $88,054 thousand, which included a loss from its discontinued operations of $106,377 thousand. For the same year, Homburg reported current assets classified as held for sale of $144,247 thousand and current liabilities associated with these assets classified as held for sale of $91,989 thousand. All amounts are net of income tax.
Instructions
(a) Based on the information provided above, what is Homburg's sustainable in come?
(b) Indicate where, and how, the loss, assets, and liabilities from the discontinued operations would be reported on Homburg's financial statements.