Question 10 Damron Inc. has the following transactions reported in the financial statements: 1. Recognized a loss when the government expropriated land to build a bridge. 2. Declared a dividend valued at $100,000. 3. A lender covenant required the company to appropriate a portion of retained earnings. 4. Received dividends on stocks held as short-term investments. The dividends were declared and paid on the same day, 5. Recognized the cost of inventory sold during the year under the periodic method. 6. The company paid rent for the current year. Which of the above transactions would be considered as unusual or infrequent' for income statement purposes!! Transaction 1 Transaction 4 Transactions 3 and 4 None of these transactions 11