Question: Able sold its headquarters building at a gain, and simultaneously leased back the building. The lease was reported as a capital lease. At the time

Able sold its headquarters building at a gain, and simultaneously
leased back the building. The lease was reported as a capital
lease. At the time of sale, the gain should be reported as

Operating income.
An extraordinary item, net of income tax.
A separate component of stockholders? equity.
An asset valuation allowance.

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Question: Able sold its headquarters building at a gain, and simultaneously leased back the building. The lease was reported as a capital lease. At the time

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