A subsequent event for an entity with a December 31, 2008, year-end would not include: a. A change in the estimated useful lives of equipment in January 2009. b. An issuance of bonds in January 2009. c. An acquisition of another company in January 2009. d. A major uncertainty at December 31, resolved in January 2009. An example of an error would be: a. Purchasing inventory from a related party. b. Carelessly counting an inventory item twice when taking a physical inventory. c. Holding back invoices so that accounts payable are understated. d. Receiving kickbacks in exchange for issuing a purchase order to a vender. Popson Inc incurred a material loss which was not unusual in character, but was clearly an infrequent occurance. This loss should be reported as: a. An extraordinary loss b. A separate line item between income from continuing operations and income from discontinued operations. c. A separate line item within income from continuing operations d. A separate line item in Other Comprehensive Income Louies Construction Co.s 2005 income from continuing operations before income taxes was $280,000. Louies reported a before-tax extraordinary gain of $50,000. All tax items are subject to a 40% tax rate. In its income statement for 2005, Louies would show the following line-item amounts for net income and income tax expense, respectively: a. $198,000 and $112,000 b. $230,000 and $92,000 c. $330,000 and $132,000 d. $198,000 and 79,000