In the current year, Randa Merchandising, Inc

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In the current year, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. Debit Credit $2,950,000 239,000 Item 1. Net sales 2. Gain on state's condemnation of company property 3. Cost of goods sold 4. Income tax expense 5. Depreciation expense 6. Gain on sale of wholesale business segment, net of tax 7. Loss from operating wholesale business segment, net of tax 8. Loss of assets from meteor strike $1,505,517 216,000 245,000 765,000 442,000 646,000 Prepare the December 31 year-end income statement. (Loss amounts should be indicated with a minus sign.)
16 Prepare the December 31 year-end income statement. (Loss amounts should be indicated with a minus sign.) RANDA MERCHANDISING, INC Ints Income Statement For Year Ended December 31 Skipped Net sales Expenses: eBook Hint Total operating expenses 0 0 Other unusual and/or infrequent gains (losses) 0 0 Discontinued segment: 0