Restructuring costs were incurred due to the closing of a factory

1. Restructuring costs were incurred due to the closing of a factory
2. Investments were sold, and a loss was recognized
3. Gains from foreign currency translation were recognized
4. Interest expense was incurred
5. A division was sold that qualifies as a separate component of the entity according to GAAP
6. Obsolete inventory was written off
7. The controller discovered an error in the calculation of 2012's patent amortization expense
8. A volcano destroyed a storage facility on a South Sea island. The event is considered to be unusual and infrequent in occurrence

Required:
1. For each situation, identify the appropriate reporting treatment from the list below (consider each event to be material)
a. As a component of operating income
b. As a non-operating income item (other income or expense)
c. As a separately reported item
d. As an other comprehensive income item
e. As an adjustment to retained earnings

2. Identify the situations that would be reported net-of-tax