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 $2,300,000 260,000 Item 1. Net Sales 2. Gain on state's condemnation of company property 3. Cost of goods sold 4. Tacone tax expense 3. Depreciation expense 6. Gain on sale of wholesale business serent, net of tax 7. Loss from operating wholesale business sunt, net of tax 8. Loss of assets from meteor strike $1,428,966 217,000 247,500 772,500 463,000 676,000 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 soos Expenses Income Statement For Year Ended December 31 Net sales Expenses Total operating expenses Other unusual and/or infrequent gains (losses) Discontinued segment