Use the financial data for Randa Merchandising, Inc., in Exercise 17-13 to prepare its income statement for calendar year 2013. (Ignore the earnings per share section.)

In Exercise 17-13, In 2013, 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. A listing of the major sections of an income statement follows:

A. Income (loss) from continuing operations

B. Income (loss) from operating, or gain (loss) from disposing, a discontinued segment

C. Extraordinary gain (loss)

Section Item Debit Credit $2.900,000 2. Gain on state's condemnation 230,000 3. Cost of 217,000 232,500 5. Depreciation expense 6. Gain on sale of wholesale business 775.000 segment (net of tax) 7. Loss from operating wholesale business 8. Slaries expense.... 640,000