The ledger of Cullumber Corporation at November 30,2024 , contains the following summary data: 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 $17,600 before income tax. The division was sold at a loss of $76,500 before income tax. 3. There were 200,000 common and 5,000 preferred shares issued on December 1,2023 , with no changes during the year