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144, Accounting for the Impairment or Disposal of Long-Lived Assets, effectively superseded the SOP, the scope of which did not include non-long-lived assets such as inventories and marketable equity securities. Even after excluding capital gain of $518,000 or 9 cents a share from the sale of marketable equity securities during the quarter, earnings jumped 35 percent and earnings per share by 28 percent from the like quarter of the prior year. The Governmental Accounting standards Board plans to issue a proposal in January 1996 on accounting for investments in debt and marketable equity securities. |
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