1Bad debts expense2Sales discounts taken3Depreciation expense on sales equipment4Loss from operations of discontinued Division B5Earnings per share6Gain on sale of land7Administrative salaries8Cash dividends declared and paid on common stock9Gain from sale of discontinued Division B10Loss on sale of equipment11Advertising expense12Merchandise inventory (ending)13Loss from write-off of obsolete inventory14Cash paid to acquire equipment15Unrealized increase in fair value of available-for-sale securitiesWhere would each of the following items most likely be reported in a company’s financial statements? Assume the monetary amount of each item is material.
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