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If you are normalizing an income statement for a gain on the sale of a division (located above operating income), which of the following would

If you are normalizing an income statement for a gain on the sale of a division (located above operating income), which of the following would describe the relationship between normalized EBIT versus reported EBIT?

a.

Normalized EBIT would be lower than reported EBIT
b.

Normalized EBIT would be the same as reported EBIT
c.

Normalized EBIT would be higher than reported EBIT
d.

There would be no difference between Normalized and Reported EBIT

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