Answer
The following items would be reported as an extraordinary item on Denison Corporation's income statement:
1. Effects of major natural casualties, if rare in the area.
2. Expropriation (takeover) of property by a foreign government.
3. Effects of a newly enacted law or regulation, such as a condemnation action.
Work Step by Step
(a) Loss from damages caused by a volcano eruption.
(g) Loss from a foreign government's expropriation of a product facility.
(d) Loss caused when the Food and Drug Administration prohibited the manufacture and sale of a product line.
