During July 2016 Purina Company decides to dispose of one of its subsidiaries which qualifies for accounting as a discontinued operation. At the July 2016 measurement date Purina Company estimates that it will report EBIT losses of $1,500,000 dollars from the measurement date until the disposal date which is expected to be in April 2017. In addition, Purina estimates that it segment assets will be disposed of for $300,000 less than the net book value of the segment assets. Assume a 30% tax rate. How much gain or loss on discontinued operations will Ralston report in its 2016 income statement (net of income taxes)? Show gains as a positive number and losses as a negative number.