4:35 PM 27%, OO Verizon LTE online.ivytech.edu Hogan Corporation's trial balance of income statement accounts for the year ended December 31, 2008 luded the following: Debit Credit $140,000 Cost of sales $50,000 Administrative expenses Loss on sale of equipment 9.000 to sales persons interest revenue Loss due to earthquake damage 12.000 Bad debt expense $110.000 $145,000 Other information: Hogan's income tax rate is 30%. Finished goods inventory: January 1, 2008 $80,000 December 31, 2008 70,000 traordinary loss is Select the operating transaction that will require an increase to net income on the statement cash flows when using the indirect Which of the following is an acceptable method of presenting the income statement? Which of the following statements best describes the income statement presentation of a sale of a discontinued operation in the year of disposal? The operating results and gain or loss on the sale are recurring items. OBThe operating results and gain or loss on the sale are non-recurring items. The operating results are a recurring item and the gain or loss is a non-recurring item. ODThe operating results are a non-recurring item and the gain or loss is a recurring item