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A strike by the employees of a supplier during the month of September 2019 resulted...

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Accounting

A strike by the employees of a supplier during the month of September 2019 resulted in a pre-tax loss of $125,000. This was considered an unusual loss and so was recorded as Other Comprehensive Income.

1. Is there an error? [ Select ] ["No, they should have reported it as OCI", "Yes, this should be reported as a part of ICO instead", "No, because it is reported as OCI it must have already been included as ICO"]

2. What adjustment (if any) is needed to Desert's ICO for 2019? [ Select ] ["No adjustment is needed", "Reduce ICO $125,000", "Reduce ICO $87,500", "Increase ICO $125,000"]

3. What adjustment (if any) is needed to Desert's Comprehensive Income for 2019? [ Select ] ["No adjustment needed", "Increase Comprehensive Income $125,000", "Increase Comprehensive Income $87,500"]

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