Question: On September 1 , 2 0 2 6 . Crane Furniture Mart enters into a tentative agreement to sell the assets of its Bramble Furniture

On September 1,2026. Crane Furniture Mart enters into a tentative agreement to sell the assets of its Bramble Furniture division. This division qualifies as a component of the entity according to GAAP regarding discontinued operations. The division's contribution to Crane's operating income for 2026 was a $5.4 million loss before income tax. Crane has an average tax rate of 20%.
Assume that Crane sold the division's assets on December 31,2026, for $26.4 million. The book value of the division's assets was $19.4 million at that date. What would Crane report in its 2026 income statement regarding the Bramble Furniture division. (Round answer to 2 decimal places, e.g.52.75.)
Cranewould report$ million.
 On September 1,2026. Crane Furniture Mart enters into a tentative agreement

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