In the current year, a company sold (discontinued) its physical stores, taking the company's business entirely online. Debit $176,000 Credit $ 2,830,000 Item Other selling, general, and administrative expenses Net sales Cost of goods sold Income tax expense Depreciation expense Income from operating physical store segment, net of tax Loss from sale of physical store segment, net of tax Loss of assets from earthquake damage to distribution center Prepare the December 31 year-end income statement. Note: Loss amounts should be indicated with a minus sign. Net sales Operating expenses Total operating expenses Income Statement Discontinued segment For Year Ended December 31 Other unusual and/or infrequent gains (losses) $ $ 1,444,276 216,000 89,500 0 0 0 0 0 0 446,000 376,000 790,000

In the current year, a company sold (discontinued) its physical stores, taking the company's business entirely online. Other selling, general, and administrative expenses Net sales Cost of goods sold Income tax expense Depreciation expense Income from operating physical store segment, net of tax Loss from sale of physical store segment, net of tax Loss of assets from earthquake damage to distribution center Debit $176,000 $1,444,276 89,500 446,000 376,000 Credit $2,830,000 790,000 Prepare the December 31 year-end income statement. Note: Loss amounts should be indicated with a minus sign