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( Part 1 of 2 Required information Use the following information for...

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Accounting

(
Part 1 of 2
Required information
Use the following information for the Exercies below. (Algo)
[The following information applies to the questions displayed below.]
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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.
\table[[1. Net sales,Debit,Credit],[2. Gain on state's condemnation of company property,$4,200,000,],[3. Cost of goods sold,$2,143,000,333,000],[4. Income tax expense,314,000,],[5. Depreciation expense,336,000,],[6. Gain on sale of wholesale business segment, net of tax,643,000,1,122,000
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