In the current year, Randa Merchandising Incorporated 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.

Use the following information for the Exercies below. (Algo) [The following information applies to the questions displayed below.] In the current year, Randa Merchandising Incorporated sold its interest in a chain of wholesale outlets, taking the compar completely out of the wholesaling business. The company still operates its retail outlets. A listing of the major sections o an income statement follows. Exercise 13-18A (Algo) Income statement presentation LO A2 Prepare the December 31 year-end income statement. Note: Loss amounts should be indicated with a minus sign