During 2014, GlenTel Inc. sold its interest in a chain of wholesale outlets. This sale took the company out of the wholesaling business completely. The company still operates its retail outlets. Following is a lettered list of sections of an income statement:

a. Income from continuing operations

b. Income from operating a discontinued operation

c. Gain or loss from disposing of a discontinued operation Indicate where each of the eight income-related items for the company would appear on the 2014 income statement by writing the letter of the appropriate section in the blank beside eachitem.

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1. Depreciation expense 2. Gain on sale of wholesale operation 5157,500 405,000 (net of $135,000 income taxes) 3. Loss from operating wholesale operation (net of $111,000 tax benefit). 4. Salaries expense 5. Sales 6. Gain on expropriation of company property 7. Cost of goods sold 8. Income taxes expense. 333,000 .. 324,000 1,620,000 264,000 190,200