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For each of the following income statement items, determine whether or not the item would be included in income from operations. Assume the company is
For each of the following income statement items, determine whether or not the item would be included in income from operations. Assume the company is a merchandising company such as Walmart or Target.
1.Dividend revenue
2.Sales discounts
3.Write-off of goodwill
4.Officers' salaries
5.Loss on sale of equity investments
6.Interest income
7.Cost of goods sold
8.Impairment of equipment
9.Sales returns
10.Restructuring charges
11.Bad debts expense
12.Interest expense
13.Rent expense
14.Insurance expense
15.Gain on sale of building
16.Advertising expense
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