Читать книгу Wiley GAAP: Financial Statement Disclosure Manual - Joanne M. Flood - Страница 25
Example 2.6: Discontinued Operations—Note Disclosure in Years Subsequent to the Year in Which the Discontinued Operation Was Classified as Held for Sale
ОглавлениеIn the fourth quarter of fiscal 20X0, the Company decided to discontinue operations of the Up Fashion division. This represents a strategic shift in operations that has a major impact on the Company's operations and financial results and has been accounted for as discontinued operations This strategy will allow the Company to focus its efforts on improving Little Miss Division sales and profitability, expanding internationally, and continuing to develop its miss tween business. The Company closed 17 Up Fashion stores in the first fiscal quarter of 20X1 and during the second fiscal quarter of 20X1, closed the remaining 18 Up Fashion stores. The results of the Up Fashion stores closed to date, net of income tax benefit, which consists of 35 and 49 stores for the fiscal years ended July 2, 20X1 and July 3, 20X0, respectively, have been presented as a discontinued operation in the accompanying consolidated statements of operations and comprehensive income (loss) for all periods presented and are as follows:
| Fiscal Year Ended | |
| July 2, 20X1 | |
| Net sales | $10,205 |
| Cost of sales, including production and occupancy | 17,378 |
| Gross margin | (7,173) |
| Selling, general and administrative expenses | 5,351 |
| Loss from discontinued operations, before income tax benefit | (12,524) |
| Tax benefit | (5,939) |
| Loss from discontinued operations, net of tax benefit | $(6,585) |
