How should a material, infrequent event not meeting the criteria for an extraordinary item be disclosed in the income statement?

A) shown as a separate item in income from continuing operations and supplemented by a footnote if deemed appropriate
B) shown in income from continuing operations but not shown as a separate item
C) shown after income from continuing operations but before extraordinary items
D) shown after extraordinary items net of income tax but before net income

Infrequent Event

An event or transaction that occurs rarely and is not expected to happen regularly in the normal course of business.

Continuing Operations

The parts or actions of a company that are anticipated to persist over the coming years, not including any operations that have been ceased.

Extraordinary Item

A significant and unusual transaction distinct from the ordinary activities of the business, no longer separately classified in financial statements due to changes in accounting standards.