Exercise 13-17A (Static) Income statement categories LO A2 the current year, Randa MerchandisingInc., 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. Indicate where each of the following income-related items for this company appears on its current year income statement by selecting the appropriate section in the drop down beside each item. Section 1 . Net sales 2Gain on state's condemnation of company property Cost of goods sold3 Income tax expense 5Depreciation expense 6Gain 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

Check my work Exercise 13-17A (Static) Income statement categories LO A2 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. Indicate where each of the following income-related items for this company appears on its current year income statement by selecting the appropriate section in the drop down beside each item. Section 1. 2 $ ORAN Item Net sales Gain on state's condemnation of company property Cost of goods sold Income tax expense Depreciation expense Gain on sale of wholesale business segment, net of tax Loss from operating wholesale business segment net of tax Loss of assets from meteor strike appears Item Debit Credit Net sales $ 2,900,000 230,000 $ 1,480,000 217,000 232,000 Gain on state's condemnation of company property Cost of goods sold Income tax expense Depreciation expense Gain on sale of wholesale business segment, net of tax Loss from operating wholesale business segment, net of tax Loss of assets from meteor strike 775,000 444,000 640,000 eBook the appropriate section in the drop down beside each item. Hint Print 1. References WN 2 3 4. Section Net sales te's condemnation pds sold Income (loss) from operating a discontinued segment, or gain (loss) from its disposal expense Net sales less operating expense section in expense Other unusual and/or infrequent gains (losses) le of wholesale bu operating wholesa Taxes reported on income (loss) from continuing operations sets from meteors 5. 6. 7 N0 8