Firms often enter into transactions that are peripheral to their core operations but generate gains and losses

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Firms often enter into transactions that are peripheral to their core operations but generate gains and losses that must be reported on the income statement. A gain labeled “peripheral” by one firm may not be labeled as such for another firm. Provide an example in which a gain generated from the sale of an equity security may be labeled a peripheral activity by one firm but is considered a core activity by another firm.

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