Which of the following statements is true regarding the reporting of discontinued operations?

a) The impact that the discontinued operations had on any previous year results is not shown for comparative purposes.

b) The income or loss, net of taxes, of the discontinued operations is reported as a separate component of income from continuing operations.

c) Earnings per share data are not reported separately for discontinued operations.

d) By reporting discontinued operations as a separate item, net of taxes, all of the effects of the discontinued business segment are excluded from the revenues, expenses, gains, and losses of continuing operations.