The following independent events occurred at Ike Inc. during the year:
1. A realized gain on the sale of long-term investments
2. A loss caused by a labor strike
3. Current assets of a discontinued component of an entity being held for immediate and probable sale
4. An operating loss from a discontinued component of an entity, held for immediate and probable sale
5. An impairment loss on goodwill
Instructions
(a) Identify which of the above items are sustainable (regular) items and which are irregular items.
(b) Indicate on which financial statement each of the above items would be reported, and where.