1. How should gains and losses be reported in the financial statements? 
2. 
   
3. a. Shown as a separate item after income from operations before income taxes, if material, and supplemented by a footnote if deemed appropriate. 
4. 
   
5. b. Shown in operating revenues or expenses if material with disclosure. 
6. 
   
7. c. Shown net of income tax after ordinary net earings, but before discontinued operations. 
8. 
   
9. d. Shown net of income tax after discontinued operations but before net earnings.