Books-R-Us, Inc. committed to sell its comic book division (a component of the business) on September 1, 2010.

Books-R-Us, Inc. committed to sell its comic book division (a component of the business) on September 1, 2010. The book value of the division’s net assets was $400,000 and the estimated selling price of the net assets was $350,000. The disposal date is expected to be june 1,2011. The division reported a net loss of $15,000 for the year ended Desember 31,2010. Ignoring taxes, choose the correct reporting for discontinued operations in the income statement of Books-R-Us,Inc., for the year ended December 31,2010.of Discontinued Operations$ 50,000$(50,000)$(50,000)$ 50,000Ans.Option B. $(15,000) $(50,000)The net loss from the operation that was discontinued will be treated as a normal revenue itemand will be shown in the consolidated income statement. The loss...