The following information was taken from the records of Daughtry Motorsports, Inc. at November 30, 2014:

Prepare a multi-step income statement for Daughtry Motorsports for the fiscal year ended November 30, 2014. Include earnings pershare.

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Selling Expenses Administrative Expenses Income From Discontinued Operations $120,000Common Stock, $10 Par Value, 21,300 shares authorized and issued 128,000 Preferred Stock, $5 No-Par Value, 3,000 shares issued 150,000 4,000 ncme Tax Expense Continuing Operations69,000 1,600 839,000 Cost of Goods Sold 434,000 cme Tax Expense: Income From Discontinued Operations Treasury Stock-Common (1,300 shares) 14,300Net Sales Revenue