The ledger of Sandhill Corporation at November $30,2024,$ contains the following summary data:

$\backslash$table$[[\backslash$table$[[$Cash dividends$-],[$common$]],$$$64,500,$Operating expenses$],[\backslash$table$[[$Cash dividends$-],[$preferred$]],25,000,$Other comprehensive income$-$loss on equity investments $($before income tax$)],[$Commonshares$,319,500,$Rent revenue$],[\backslash$table$[[$Cost of goods$],[$sold$]],7,270,000,$Preferred shares $($ $$5$ noncumulative$)],[\backslash$table$[[$Depreciation$],[$expense$]],349,000,$Retained earnings, December $1,2023],[,$Y$,,]]$

Your analysis reveals the following additional information:

The company has a $25\%$ income tax rate.

The communications devices division was discontinued on August $31.$ The profit from operations for the division up to that day was $$16,800$ before income tax. The division was sold at a loss of $$74,500$ before income tax.

There were $200,000$ common and $5,000$ preferred shares issued on December $1,2023,$ with no changes during the year.

Prepare a multiple$-$step income statement for the year. $($Round earnings per share to $2$ decimal places, es$.15\mathrm{.}25.)$

SANDHILLCORPORATION

IncomeStatement

Year Ended November $30,2024$

Sales

Cost of Goods Sold