Which of the following statements regarding the income statements of corporations is not correct?

a.Some corporations include cost of goods sold with the operating expenses.

b.Some corporations show income tax expense as an operating expense rather than as a deduction from net income before income tax.

c.If a gain or loss results from a transaction that is highly unusual, is clearly unrelated to routine operations, and is not expected to occur again in the near future, the gain or loss is shown as an operating expense.

d.Corporations can use a variety of formats for the income statement.