On September $1,2024,$ Jacob Furniture Mart enters into a tentative agreement to sell the assets of its Office Furniture 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 $2024$ was a $\backslash (\backslash$$ $3\mathrm{.}40\backslash )$ million loss before income tax. Jacob has an average tax rate of $\backslash (25\backslash \%\backslash ).$

Assume that Jacob had not yet sold the division's assets by the end of $2024.$ Further, assume that the fair value less cost to sell of the division's assets on December $31,2024,$ was $\backslash (\backslash$$ $24\mathrm{.}40\backslash )$ million and was expected to remain the same when the assets are sold in $2025.$ The book value of the division's assets was $\backslash (\backslash$$ $19\mathrm{.}36\backslash )$ million at the end of $2024.$

Required:

$1.$ What would Jacob report in its $2024$ income statement regarding the Office Furniture division?

$2.$ What would Jacob report in its $2024$ balance sheet regarding the information provided for Office Furniture Division? Note: Enter your answer in millions rounded to $1$ decimal place $($i$.$e$.,5,500,000$ should be entered as $5\mathrm{.}5).$ Cells should not be left blank.