Reported as a capital lease

Reference no: EM13156823

Carey 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 the sale, the gain should be reported as:

a. Operating income

b. An extraordinary item, net of income tax

c. A separate component of stockholders' equity

d. A deferred gain.

Reference no: EM13156823

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