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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.

	Item	Debit	Credit
1.	Net sales		$ 3,700,000
2.	Gain on state's condemnation of company property		293,000
3.	Cost of goods sold	$ 1,888,000
4.	Income tax expense	277,000
5.	Depreciation expense	296,000
6.	Gain on sale of wholesale business segment, net of tax		989,000
7.	Loss from operating wholesale business segment, net of tax	566,000
8.	Loss of assets from meteor strike	817,000

Prepare the December 31 year-end income statement. (Loss amounts should be indicated with a minus sign.)