Park Corporation had two divisions: steel and ball bearings. The steel division was unprofitable. On July 2014, Park sold the division for a $2.3 million loss. Prior to the sale the division had lost $1.6 million in 2014. Park had income from continuing operations of $6.8 million (after taxes) and its income tax rate was 34%. Prepare the 2014 income statement from the income from continuing operations line (ignore EPS disclosures) assuming a December 31 year-end. Which of the following should be classified as extraordinary items? a. A loss on foreign currency held in the East Asian operations of the company. b. A loss on the sale of machinery. c. The loss on the clothing inventory due to a change in customer preferences. d. A loss from a factory being shut down due a labor disturbance. e. Uninsured losses from tornado damage. What if insurance covered the loss