Teal mountain inc. decided on january 1 to discontinue its telescope manufacturing division. on july 1, the division’s assets with a book value of $1281000 are sold for $921000. operating income from january 1 to june 30 for the division amounted to $21. ignoring income taxes, what total amount should be reported on teal mountain’s income statement for the current year under the caption, discontinued operations?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.