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. Indicate where each of the following income statement-related items for this company appears on its current year income statement by selecting the appropriate section in the drop down beside each item. 1. 234567 00 3. 4. 8 Section Item Gain on state's condemnation of company property Gain on sale of wholesale business segment, net of tax Loss from operating wholesale business segment, net of tax Net sales Loss of assets from meteor strike Depreciation expense Income tax expense Selling and administrative expense $ Debit 1,480,000 217,000 232,000 444,000 640,000 Credit $ 2,900,000 230,000 775,000

In the current year, Randa Merchandising. inc. sold its interest in a chain of whiolesale outlets, taking the company completely out of the wholesaling business. The company still ogerates its retal outiets Indicate where each of the following income statemert-related terns for this compary appears on is cunent year income statement by selecting the appropriate section in the drop down beside each tiem