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Scenario 1: Assume That Jacob Sold the Division's Assets on December

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Scenario 1: Assume that Jacob sold the division's assets on December 31, 2013, for $24 million. The book value of the division's assets was $19 million at that date. Under these assumptions, what would Jacob report in its 2013 income statement regarding the office equipment division? Explain where this information would be presented.


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