Exercise 13-18A Income statement presentation 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. Dehat Credit $2,800,000 242,060 1. Net sales 2. Gain on state's condemnation of company property 3. Cost of goods sold 4. Incotxe pense 5. Depreciation expense 5. Gain on sale of wholesale business serent, net of tax 7. Loss from operating wholesale business seguent, net of tax 8. Los of assets from no teor strike $1,425,966 221,000 232,500 752.500 448,000 634,000 Prepare the December 31 year end income statement. (Loss amounts should be indicated with a minus sign.) RANDA MERCHANDISING, INC Income Statement For Year Ended December 31 Net sales Expenses Total operating expenses IN OM For Year Ended December 31 Net sales Expenses Total operating expenses 0 0 Other unusual and/or infrequent gains (losses) 0 0 Discontinued segment 0 S 0