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ework: Financial Statement Analysis Assi... i Saved Help 6 For Year Ended December 31 Net sales Expenses: Cost of goods sold Depreciation expense 3:13:30 Total operating expenses oped Other unusual and/or infrequent gains (losses) ook lint rint fences Discontinued segment: ere to search 61.F Sunnyhttps://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser= nework: Financial Statement Analysis Assi... i Saved Help Save & Exit Submit Check my work 5 16 In the current year, Randa Merchandising Incorporated 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. A listing of the major sections of an income statement follows. Item Debit Credit 1. Net sales $ 3,900, 000 2. Gain on state's condemnation of company property 309 , 000 3. Cost of goods sold $ 1,990, 000 03:13:48 4. Income tax expense 292,000 5. Depreciation expense 312, 000 6. Gain on sale of wholesale business segment, net of tax 1, 042, 006 kipped 7. Loss from operating wholesale business segment, net of tax 597,000 8. Loss of assets from meteor strike 861, 000 Book Hint Prepare the December 31 year-end income statement. (Loss amounts should be indicated with a minus sign.) Print RANDA MERCHANDISING, INCORPORATED ferences Income Statement For Year Ended December 31 Net sales Expenses: fact of annle cold W 5:45 here to search 61.F Sunny 2/7