22
300.54.59
In the current year, a company sold (discontinued) its physical stores, taking the company's business entirely online.
Item
Other selling, general, and administrative expenses
Net sales
Cost of goods sold
Income tax expense
Depreciation expense
Income from operating physical store segment, net of tax
Loss from sale of physical store segment, net of tax
Loss of assets from earthquake damage to distribution center
Prepare the December 31 year-end income statement.
Note: Loss amounts should be indicated with a minus sign.
Credit
Debit
\$194,000
\$ 2,810,000
\$ 1,434,069
201,000
95,500
767,500
427,000
390,000
Nel sales
Operating expenses
Income Statement
For Year Ended December 31
Total operating expenses
Other unusual and/or infrequent gains (losses)
