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?

Two products, qi and vh, emerge from a joint process. product qi has been allocated $34,300 of the total joint costs of $55,000. a total of 2,900 units of product qi are produced from the joint process. product qi can be sold at the split-off point for $11 per unit, or it can be processed further for an additional total cost of $10,900 and then sold for $13 per unit. if product qi is processed further and sold, what would be the financial advantage (disadvantage) for the company compared with sale in its unprocessed form directly after the split-off point?