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The following information was taken from the records of Clarkston Motorsports, Inc. at November 30, 2024: (Click the icon to view the data.) Prepare a
The following information was taken from the records of Clarkston Motorsports, Inc. at November 30, 2024: (Click the icon to view the data.) Prepare a multi-step income statement for Clarkston Motorsports for the fiscal year ended November 30, 2024. Include earnings per share. Selling Expenses 105,000 Common Stock, $20 Par Value, Administrative Expenses 120,000 17,000 shares authorized and issued 340,000 Income From Discontinued Operations 3,750 Cost of Goods Sold 500,000 Preferred Stock, $2 No-Par Value, 3,000 shares issued 60,000 Income Tax Expense: Continuing Treasury Stock-Common (2,000 shares) 46,000 Operations 25,000 Net Sales Revenue 795,750 Income Tax Expense: Income from Discontinued Operations 1,500 Complete the income statement in this step, and then identify and enter the applicable EPS amounts in the following step. (Round al earnings per share amounts to the nearest cent, $X.XX.) Clarkston Motorsports, Inc. Income Statement Year Ended November 30, 2024 Net Income Net Income
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