Which of the following statements is NOT correct in reference to a multi-step income statement presentation? O Extraordinary items which are unusual and infrequent in nature are presented as "other items". O Operating Income is the subtotal calculated by subtracting Cost of Goods Sold from Sales Revenue O Components of net income on an earnings per share basis are reqired to be presented on the income statement. Items presented "below the line" must be shown on a net of tax or after-tax basis.