Which item is not correct with respect to the treatment of sustainable and transitory items and a company's income statement? a. Financial reporting assists statement users in forecasting future cash flows by providing an income statement format that segregates components of net income.
b. Income statements prepared in accordance with GAAP differentiate between income components that are believed to be sustainable and those that are transitory.
c. The income statement isolates a key figure called "income from sustainable operations."
d. Transitory items are disclosed separately on the income statement so that statement users can place less weight on these earnings components when forecasting future profitability.

Consider the market for gas-powered small cars. assume gas-powered small cars are a normal good. for each of the following events, identify which of the determinants of demand or supply are affected. if demand is unaffected by this event because it creates only a supply change, select the “none” option under the “demand determinant” column. similarly, if supply is unaffected by this event because it creates only a demand change, select the “none” option under the “supply determinant” column. event demand determinant supply determinant people decide to have more children. the price of electric small cars falls. the discovery of a new source of iron ore lowers steel prices. an economic recession lowers people’s wealth. a number of major car dealers decide to switch from selling gas-powered cars to selling electric cars. show the effect of the following event on the market for gas-powered small cars: people decide to have more children for each of the four independent situations, prepare the journal entries to record the exchange on the books of each company.