Question: Use the financial data for Randa Merchandising, Inc., in Exercise 17-13 to prepare its income statement for calendar-year 2017. (Ignore the earnings per share section.)

Use the financial data for Randa Merchandising, Inc., in Exercise 17-13 to prepare its income statement for calendar-year 2017. (Ignore the earnings per share section.)

Sectlon Item Debit Credh $2,900,000 1. Net sales. 2. Gain on state's condemnation 230,000 3. 4. Cost of goods sold Income taxes expense S100 217,000 232,000 6. 7. 8. Loss of assets from meteor strike, net of tax Gain on sale of wholesale business segment, net of tax. Loss from operating wholesale business segment, net of tax. 775,000 444,000 640,000

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