sovereign foods suffered a $1500000 loss (net tax) when the FDA prohibited the sale of food products containing red dye number three on its other products Auburn Foods had net sales of 6580000 and costs and other expenses of 6505000 which of the following statements is not true (ignore taxes) a. sovereign foods reports a net loss of 1,425.000 for current year b. sovereign foods reports income before extraordinary items of 75,000 c. sovereign foods combines the 1,500.0p0 loss with its other costs and expenses of 6,505,000 since this item does not qualify for any special disclosure d. sovereign foods shows the 1,500.000 loss in a seperate section of the income statement as an extraordinary item