In 2017, 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: Item Debit Credit 1. Net sales $ 2,950,000 2. Gain on states condemnation of company property, net of tax 254,000 3. Cost of goods sold $ 1,505,517 4. Income taxes expense 229,000 5. Depreciation expense 237,500 6. Gain on sale of wholesale business segment, net of tax 760,000 7. Loss from operating wholesale business segment, net of tax 460,000 8. Loss of assets from meteor strike, net of tax 666,000 Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)

In 2017, 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:

	Item		Debit			Credit
1.	Net sales				$	2,950,000
2.	Gain on states condemnation of company property, net of tax					254,000
3.	Cost of goods sold	$	1,505,517
4.	Income taxes expense		229,000
5.	Depreciation expense		237,500
6.	Gain on sale of wholesale business segment, net of tax					760,000
7.	Loss from operating wholesale business segment, net of tax		460,000
8.	Loss of assets from meteor strike, net of tax		666,000

Prepare the income statement for calendar year 2017. (Loss amounts should be indicated with a minus sign.)