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. prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. ignore eps disclosures. 2. assume that by december 31, 2021, the division had not yet been sold but was considered held for sale. the fair value of the division’s assets on december 31 was $5,510,000. prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. ignore eps disclosures. 3. assume that by december 31, 2021, the division had not yet been sold but was considered held for sale. the fair value of the division’s assets on december 31 was $4,070,000. prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. ignore eps disclosure
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