Current Attempt in Progress The ledger of Cullumber Corporation at November 30, 2021, contains the following summary data: Cash dividends-common $ 72,000 Operating expenses $ 1,124,000 25.000 Cash dividends-preferred Other comprehensive income-loss on equity investments (before income tax) 94,000 327,000 Common shares 62.000 Rent revenue 404.000 Cost of goods sold 7,420.000 Preferred shares ($5 noncumulative) 755.000 Depreciation expense 364.000 Retained earnings, December 1, 2020 Sales 9,034,000 Your analysis reveals the following additional information: 1. The company has a 25% income tax rate. 2. The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $ 19,800 before income tax. The division was sold at a loss of $ 82,000 before income tax. 2000 common and 5,000 preferred shares issued on December 1, 2020, with no changes during the year. Current Attempt in Progress The ledger of Cullumber Corporation at November 30, 2021, contains the following summary data: Cash dividends-common $ 72,000 Operating expenses $ 1,124,000 25.000 Cash dividends-preferred Other comprehensive income-loss on equity investments (before income tax) 94,000 327,000 Common shares 62.000 Rent revenue 404.000 Cost of goods sold 7,420.000 Preferred shares ($5 noncumulative) 755.000 Depreciation expense 364.000 Retained earnings, December 1, 2020 Sales 9,034,000 Your analysis reveals the following additional information: 1. The company has a 25% income tax rate. 2. The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $ 19,800 before income tax. The division was sold at a loss of $ 82,000 before income tax. 2000 common and 5,000 preferred shares issued on December 1, 2020, with no changes during the year