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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 Net sales,Debit,Credit Gain on state's condemnation of company property,$ Cost of goods sold,$ Income tax expense, Depreciation expense, Gain on sale of wholesale business segment, net of tax,
