Troy, Inc. decided on January 1 to
discontinue its telescope manufacturing division. On July 1, the division’s
assets with a book value of $1,260,000 are sold for $840,000. Operating income
from January 1 to June 30 for the division amounted to $130,000. Ignoring
income taxes, what total amount should be reported on Troy’s income statement
for the current year under the caption, Discontinued Operations?