Liz Claiborne Inc. reported $ 145 million of Income from Operations for its year ended December 31, 2011. This income included a gain on sale of the Liz Claiborne family of brand names to J. C. Penney, for total proceeds of $ 268 million. At the time of disposal, the brand names had a book value of zero because they had been developed internally by Liz Claiborne Inc. Soon after the disposal, in January 2012, the company changed its name to Fifth & Pacific Companies to reflect the sale of its Liz Claiborne brand names. For its year ended December 28, 2013, Fifth & Pacific reported Income from Operations of $ 73.9 million, after deducting the following asset impairment losses:

Juicy Couture brand impairment loss... $ 1.7 million

TRIFARI brand impairment loss... 3.3 million

Mex impairment loss... 6.1 million

Total impairment losses... $ 11.1 million

(a) Determine the gain on sale that Liz Claiborne reported in 2011 when it disposed of its brand names.

(b) What would have been the company's Income (Loss) from Operations for this year had it not sold its Liz Claiborne brand names?

(c) Determine the Income from Operations that Fifth & Pacific would have reported in 2013 had its impairment losses been zero.

(d) What percentage of operating income (before impairment) did the 2013 impairment losses represent?