The following income statement items appeared on the adjusted trial balance of Schembri

Manufacturing Corporation for the year ended December $31,2024($ $ in thousands$)$: sales revenue,

$$15,300$; cost of goods sold, $$6,200$; selling expenses, $$1,300$; general and administrative expenses,

$$800$; interest revenue, $$40$; interest expense, $$180.$ Income taxes have not yet been recorded. The

company's income tax rate is $25\%$ on all items of income or loss. These revenue and expense items

appear in the company's income statement every year. The company's controller, however, has

asked for your help in determining the appropriate treatment of the following nonrecurring

transactions that also occurred during $2024($$ in thousands$).$ All transactions are material in amount.

Investments were sold during the year at a loss of $$220.$ Schembri also had an unrealized

gain of $$320$ for the year on investments in debt securities that qualify as components of

comprehensive income.

One of the company's factories was closed during the year. Restructuring costs incurred

were $$1,200.$

During the year, Schembri completed the sale of one of its operating divisions that qualifies

as a component of the entity according to GAAP. The division had incurred a loss from

operations of $$560$ in $2024$ prior to the sale, and its assets were sold at a gain of $$1,400.$

In $2024,$ the company's accountant discovered that depreciation expense in $2023$ for the

office building was understated by $$200.$ The amount is considered material.

Negative foreign currency translation adjustment for the year totaled $$240.$

Required: