Question 10 1 pts A company wrote down a substantial amount of excess inventory to its salvage value. This loss is to be reported in the year it was recognized in the: income statement, net of its tax effect, as an extraordinary item o income statement, net of its tax effect, as part of the expenses related to regular operations income statement, net of tax effect, as a cumulative adjustment from an accounting change. income statement at full amount as part of the expenses related to regular operations