Presented below is the income statement for a British company Avon Rubber PLC.

Instructions
(a) Review the Avon Rubber income statement and identify at least three differences between the British income statement and an income statement of a U.S. company as presented in the chapter.
(b) Identify any irregular items reported by Avon Rubber. Is the reporting of these irregular items in Avon's income statement similar to reporting of these items in U.S. companies' income statements?Explain.

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Avon Rubber PLC Consolidated Profit and Loss Account for the year ended 30 September exceptiona Exceptional items £000 (209,739) (209,739) (including £681,000 (2002: £626,000) Share of profits of joint Total operating profit including Loss on disposal of fixed assets Profit on ordinary activities 1,968 Profit/(loss) on ordinary activities activities Profit/(loss) for the financial year Retained profit(loss) for the Earnings/(loss) per ordinary share