Question

In 2011, Simplon Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections of an income statement follows:
A. Income (loss) from continuing operations
B. Income (loss) from operating, or gain (loss) from disposing, a discontinued segment
C. Extraordinary gain (loss)
Indicate where each of the following income-related items for this company appears on its 2011 income statement by writing the letter of the appropriate section in the blank beside each item.


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  • CreatedMarch 16, 2015
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