Identify whether each of the following items would be classified as:

Income from continuing operations {C}

Income from discontinued operations {D}

An extraordinary item {E}

A cumulative effect o f a change in accounting principle {P}

• $5,000 insurance proceeds on a fully depreciated piece of equipment that was lost in a hurricane.

• $2,500 gain on the sale of office furniture

• 18,000 increase in income as a result of changing from DDB depreciation to straight line depreciation.

• Income tax expense

• $85,000 loss incurred as a result of closing the Coeur dAlene, Idaho store location.

• $4,500 loss incurred as a result of a company vehicle being involved in an accident.