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The following information was taken from the records of Yang Motorsports, Inc. at November 30, 2018: (Click the icon to view the data.) Prepare a
The following information was taken from the records of Yang Motorsports, Inc. at November 30, 2018: (Click the icon to view the data.) Prepare a multi-step income statement for Yang 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, SX.XX.) Yang Motorsports, Inc. Income Statement Year Ended November 30, 2018 i Data Table S 67,500 Selling Expenses Administrative Expenses Income From Discontinued Operations Cost of Goods Sold Treasury Stock-Common (1,500 shares) Net Sales Revenue 145,000 115,000 3,000 430,000 9,000 790,200 Common Slock, 55 Par Value, 13,500 shares authorized and issued Preferred Stock, $3 No-Par Value, 3,000 shares issued Income Tax Expense: Continuing Operations Income Tax Expense: Income from Discontinued Operations 120,000 60,000 1,200 Print Done Net Income
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