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Incorrect Question 1 0/0.71 pts USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT (8) QUESTIONS: On August 1, 20x1. Sparky Mercantile adopted a plan to discontinue its children's clothing division, which qualifies as a component of the business according to GAAP. The disposal of the division was expected to be concluded by June 30, 20x2. On December 31, 20x1, Sparky's fiscal year-end, the following information relative to the discontinued operation was accumulated: Operating Income (pre-tax) Jan 1, 20x1 - Dec 31, 20x1 Estimated Operating Income (pre-tax) Jan 1, 20x2 - June 30, 20x2 Net Book Value of the Component at Dec 31, 20x1 Fair Value of the Component at Dec 31, 20x1 Estimated Disposal Costs Income Tax Rate 549,000 290.000 3,225,000 3,100,000 120.000 30% Because the sale was not complete by December 31, 20x1, Sparky had to test the component for impairment. Determine the Impairment Loss (net of tax), that Sparky would report in their 20x1 footnotes (if any) "If an impairment loss is indicated just record your answer as a positive number. Do not use commas or dollar signs. 245000 Question 4 0/0.71 pts Using the information presented above, answer the following: Determine Gain/Loss from Discontinued Operations (net of tax) for 20x2: "If your answer is a Loss, enter your answer using ( parenthesis. (60000)