On April 26, 2019, the Company completed the sale of its Turkey Hill Dairy business to an affiliate of Peak Rock Capital for total proceeds of $225. The sale resulted in a gain of $106, $80 net of tax, which is included in “Gain on sale of businesses" in the Consolidated Statements of Operations.

On April 26, 2019, the Company completed the sale of its Turkey Hill Dairy business to an affiliate of Peak Rock Capital for total proceeds of $225. The sale resulted in a gain of $106, $80 net of tax, which is included in “Gain on sale of businesses" in the Consolidated Statements of Operations.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

G5.

Q. During fiscal 2019, Kroger sold its Turkey Hill Dairy business for a gain. What was the book value of Turkey Hill Dairy’s net assets that Kroger disposed of?

On April 26, 2019, the Company completed the sale of its Turkey Hill Dairy business to an affiliate of Peak Rock Capital
for total proceeds of $225. The sale resulted in a gain of $106, $80 net of tax, which is included in “Gain on sale of
businesses" in the Consolidated Statements of Operations.

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