Required Information

Use the following information for the Exercies below. $($Algo$)$

$[$The following information applles to the questlons 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.

Exercise $13-18$A $($Algo$)$ Income statement presentation LO A$2$

Prepare the December $31$ year$-$end Income statement.

Note: Loss amounts should be Indicated with a minus sign.