Item Debit Credit $3,040,000 275,000 1. Net sales 2. Gain on state's condemnation of company property, net of tax 3. Cost of goods sold 4. Income taxes expense 5. Depreciation expense 6. Gain on sale of wholesale business segment, net of tax 7. Loss from operating wholesale business segment, net of tax 8. Loss of assets from meteor strike, net of tax $1,551,448 212,000 230,000 765,000 479,000 678,000 RANDA MERCHANDISING, INC. Income Statement For Year Ended December 31, 2017 $ 3,040,000 Net sales Expenses: $ Cost of goods sold Depreciation expense 1,551,448 230,000 Total operating expenses 1,781,448 1,258,552 Other unusual and/or infrequent gains (losses) Gain on state's condemnation of company property, net of tax Loss on assets from meteor strike, net of tax Income from continuing operations before taxes Income taxes expense i tax (275,000) 678,000 1,661,552 (212,000) 1,449,552 Discontinued segment: Gain on sale of wholesale business segment (net of tax) Loss from operating wholesale business segment (net of tax) Gain on state's condemnation of company property, net of tax Mrrrrrrrrrrrr Net income (765,000) 479,000 (275,000) | $ $ (561,000) 888,552