Sovereign Foods suffered a $1,500,000 loss when the FDA prohibited the sale of food products containing red dye no. 3. On its other products, Sovereign Foods had sales of $6,580,000 and costs and other expenses of $6,505,000. Which of the following statements is true? (Ignore taxes) Multiple Choice Sovereign Foods reports a net loss of $1,425,000 for the current year. Sovereign Foods reports income from continuing operations of $75,000. Sovereign Foods combines the $1,500,000 loss with its other costs and expenses of $6,505.000, since this item does not quality for any special disclosure O Sovereign Foods shows the $1,500,000 loss in a separate line of the income statement after income from continuing operations