I am working on a project and i have to generate an income statement from a list of figures and activities. The instruction specifies that,.

I am working on a project and i have to generate an income statement from a list of figures and activities.

The instruction specifies that,. All sales are collected when the sale is made and all expenses are paid when the expense is incurred.

i would like to find out if the Gain from the sale of equipment and Repayment of note payable should be included in the income statement or not. These two items are not included in the list of items that are to be used in the income statement but they are included in the list of other financial data.