(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. Debit Credit $ 3,100,000 246,000 Item 1. Gain on sale of wholesale business segment, net of tax 2. Gain due to an infrequent calamity 3. Cost of goods sold 4. Depreciation expense 5. Interest expense 6. Gain on state's condemnation of company property 7. Amortization expense 8. Loss of assets from meteor strike $ 1,582,000 232,000 248,000 828,000 475,000 684,000 Prepare the December 31 year-end income statement. (Loss amounts should be indicated with a minus sign.) RANDA MERCHANDISING, INCORPORATED Income Statement For Year Ended December 31 Net sales Expenses: Total operating expenses 0 0 Other unusual and/or infrequent gains (losses) 0 0 Discontinued segment: 0 $ 0