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

Cash

dividends$-$

$$69,000$

Operatingexpenses

$$1,118,000$

common

Cash $25,000$

dividends$-$ Othercomprehensive income$-$losson equity invest ments $[$before incometax$]$

preferred

Common

shares

$324,000$

Rent revenue

$88,0000$

Cost of goods

sold

$7,360,0000$

Preferred shares $[$t$5$ noncumulative$]$

$56,000$

Depreciation

expense

$358,000$

Retained earnings December $1,2023$

$749,000O$

Sales $,9,028,000$

Your analysis reveals the following additional information:

Thecompany has a $25\%$ incometax rate

Thecommunications devicesdivision was discontinued on August $31.$ The profit fromoperations for the division up to

that day was $$18,600$ before income tax. The division was sold at a loss of $$7$ p$,000$ before incometax.

There were $200,000$ common and $5,000$ p referred shares issued on December $1,2023,$ with no changes du ring the year.

SUNLANDCORPORATION

Income Statement