The following information was taken from the records of Pea Motorsports, Inc. at November 30, 2025: Prepare

The following information was taken from the records of Peña Motorsports, Inc. at November 30, 2025: 

Prepare a multi-step income statement for Peña Motorsports, Inc. for the fiscal year ended November 30, 2025. Include earnings per share.

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Selling Expenses Administrative Expenses Income from Discontinued Operations Cost of Goods Sold Treasury Stock-Common (5,000 shares) Net Sales Revenue $ 100,000 130,000 13,200 460,000 15,000 824,450 Common Stock, $20 Par Value, 38,000 shares authorized and issued Preferred Stock, $2 No-Par Value, 6,000 shares issued Income Tax Expense: Continuing Operations Income Tax Expense: Income from Discontinued Operations $ 760,000 420,000 35,000 5,280