P4-4 Restructuring costs; Discontinued operations; Accounting error L04-3 , L04-4, L04-5 The preliminary 2018 income statement of Alexian Systems, Inc., is presented below: ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2018 ($ in millions, except earnings per share) Revenues and gains: Net sales $ 425 Interest Other income 126 Total revenues and gains 554 Expenses: Cost of goods sold 270 Selling and administrative 154 Income taxes Total expenses 476 Net Income Earnings per share $3.90 Additional Information: 1. Selling and administrative expenses include $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 painon disposal. The remaining $6 million is from the gain on sale of investments. 3. Cost of goods sold was increased by 5 million to correct an error in the calculation of 2017's ending inventory 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