Which of the following statements is not true?

a We report discontinued items separately, net of taxes, just before net income.

b when using a company's current earnings to estimate future earnings performance, investors normally exclude discontinued operations.

c The decision of whether to report a loss as part of continuing operations or discontinued operations depends on the preference of management.

d We report any profits or losses on discontinued operations in the current year separately from profits and losses on the portion of the business that will continue.