Chapter 5, Problem 5.5P

Income Statement Presentation, Classification, and Net of Tax. Complete the following table by indicating

1. The section of the income statement where the item should be included (e.g., operating non-operating, discontinued operations), and

2. Whether the event is reported net of tax

The first event is completed as a guide,

	Income Statement Classification	Reported Net of Tax?
Loss on disposal of equipment	Non operating	No
Gam on sale of plant assets	_____________	_____________
Impairment loss	_____________	_____________
Loss on inventory write off after government	_____________	_____________
prohibition	_____________	_____________
Operating income	_____________	_____________
Unrealized loss on available-for-sale investments	_____________	_____________
Gain on disposal of expropriated land	_____________	_____________
Unrealized gain on trading securities	_____________	_____________
Operating income of discontinued division	_____________	_____________
Loss on inventory write off due to obsolescence	_____________	_____________