Problem 4-5 (Algo) Income statement presentation; Restructuring costs; Discontinued operations; Accounting error [LO4-1, 4-3, 4-4, 4-5]

The preliminary 2021 income statement of Alexian Systems, Inc., is presented below:

ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2021 ($ in millions, except earnings per share)
Revenues and gains:
Sales revenue	$	437
Interest revenue		5
Other income		127
Total revenues and gains		569
Expenses:
Cost of goods sold		246
Selling and administrative expense		151
Income tax expense		43
Total expenses		440
Net Income	$	129
Earnings per share	$	12.90

Additional information:

1. Selling and administrative expense includes $27 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 $7 million is from the gain on sale of investments.
3. Cost of Goods Sold in 2021 was increased by $10 million to correct an error in the calculation of 2020's ending inventory. The amount is material.