Required information 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 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 Debit Credit $ 4,100,000 325,000 Item 1. Net Sales 2. Gain on state's condemnation of company property 3: Cost of goods sold 14. Income tax expense 5. Depreciation expense 6. Gain on sale of wholesale business sement, net of tax 7 tose from operating wholesale business seront, net of tax Loss of assets fronter strike 5 2,092,000 307.000 120,000 1,096,000 628,000 905,000 Exercise 17-17A (Algo) Income statement categories LO A2 indicate where each of the following income related items for this company appears on its current year income statement by selecting the appropriate section in the drop down beside each item, Exercise 17-17A (Algo) Income statement categories LO A2 Indicate where each of the following income related items for this company appears on its current year income statement by selecting the appropriate section in the drop down beside each item section 1 2 Gnoccdate of company property Cost of bodo increase Deprecatione Can whose not to Low from what otot Lososomwa Credit 310000 to 12000200 3070 0 000 000000 678000 05.000 5 7