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Please help with the last section where the boxes are blank! Data Table $ 95,000 Common Stock, $18 Par Value, 17,000 shares authorized and issued
Please help with the last section where the boxes are blank!
Data Table $ 95,000 Common Stock, $18 Par Value, 17,000 shares authorized and issued $ 306,000 Selling Expenses Administrative Expenses Income From Discontinued Operations Cost of Goods Sold Preferred Stock, $6 No-Par Value, 150,000 2,800 410,000 105,000 769,400 9,000 shares issued 180,000 Treasury Stock-Common (5,000 shares) 25,000 Net Sales Revenue Income Tax Expense: Continuing Operations Income Tax Expense: Income from Discontinued Operations 1,120 The following information was taken from the records of Shepard Motorsports, Inc. at November 30, 2018: (Click the icon to view the data.) Prepare a multi-step income statement for Shepard Motorsports for the fiscal year ended November 30, 2018. Include earnings per share. Complete the income statement in this step, and then identify and enter the applicable EPS amounts in the following step. (Round all earnings per share amounts to the nearest cent, $X.XX.) Shepard Motorsports, Inc. Income Statement Year Ended November 30, 2018 Net Sales Revenue $ 769,400 Cost of Goods Sold 410,000 359,400 Gross Profit Operating Expenses: Selling Expenses $ 95,000 Administrative Expenses 150,000 245,000 Operating Income/Income Before Taxes 114,400 25,000 Income Tax Expense Income From Continuing Operations 89,400 Discontinued Operations (less applicable tax) 1,680 $ 91,080 Net Income Earnings per Share of Common Stock (12,000 shares outstanding): Income From Continuing Operations Income From Discontinued Operations 0.14 Net IncomeStep by Step Solution
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