During the year ended December 31, 2014, Schmelya Corporation incurred the following infrequent losses:
- A factory was shutdown during a major strike by employees; costs were $120,000.
- A loss of $50,000 was incurred on the abandonment of computer equipment used in the business.
- A loss of $82,000 was incurred as a result of flood damage to a warehouse.
How much total loss should Schmelya report in the extraordinary item section of its 2014 income statement?
- $82,000.
- $120,000.
- $202,000.
- $252,000.