The preliminary 2024 income statement of Alexian Systems, Inc., is presented below:

Additional Information:
1. Selling and administrative expense includes $26 million in restructuring costs.
2. Included in other income is $120 million in income from a discontinued operation. This consists of $90 million in operating income and a $30 million gain on disposal. The remaining $6 million is from the gain on sale of investments.
3. Cost of Goods Sold in 2024 includes an increase of $10 million to correct an understatement of Cost of Goods Sold in 2023. The amount is material.
Required:
For each of the three additional facts listed in the additional information, discuss the appropriate presentation of the item described. Do not prepare a revised statement.

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ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2024 ($ in millions, except earnings per share) Expenses: Revenues and gains: Sales revenue Interest revenue Other income Total revenues and gains Cost of goods sold Selling and administrative expense Income tax expense Total expenses Net Income Earnings per share $ 425 4 126 555 245 154 39 438 $117 $5.85