Counting Crows Inc. provided the following information for the year 2020.

Retained earnings, January 1, 2020 $600,000

Administrative expenses 240,000

Selling expenses 300,000

Sales revenue 1,900,000

Cash dividends declared 80,000

Cost of goods sold 850,000

Loss on discontinued operations 110,000

Rent revenue 102,700

Unrealized holding gain on available-for-sale debt securities 17,000

Income tax applicable to continuing operations 187,000

Income tax benefit applicable to loss on discontinued operations 60,500

Income tax applicable to unrealized holding gain on available-for-sale debt securities 2,000

In a recent meeting with its auditor, Counting Crows management argued that the company should be able to prepare a non-GAAP income statement with some one-time administrative expenses reported similar to discontinued operations. Is such reporting consistent with the qualitative characteristics of accounting information as discussed in the conceptual framework? Explain.