P Save & Exit Submit Check my work Exercise 17-18A 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. Debit Credit $2,810,000 257.ee 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 serent, net of tax 8. Loss of assets from meteor strike $1,434,069 209,000 235,000 792,500 OG 478,eee 662,ese 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 bove Submit Check my work 10 Prepare the December 31 year-end income statement (Loss amounts should be indicated with a minus sign.) Dints RANDA MERCHANDISING, INC. Income Statement For Year Ended December 31 ook Not sales Expenses Print unces Total operating expenses 0 O Other unusual and/or infrequent gains (los) 0 ic Check my work 10 Total operating expenses 0 0 2 points Other unusual andior infrequent gains (losses) look nt D Print 0 Rotach Discontinued segment 0 S 0