The following information was taken from the records of Shepard Motorsports, Inc. at November 30, 2016: Selling

The following information was taken from the records of Shepard Motorsports, Inc. at November 30, 2016:

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Selling Expenses Administrative Expenses Income from Discontinued Operations Cost of Goods Sold Treasury Stock-Common (1,500 shares) Net Sales Revenue $150,000 95,000 Common Stock, $8 Par Value, 29,500 shares authorized and issued $236,000 7,000 Preferred Sto ck, $7 No-Par Value, 9,000 shares issued 630,000 45,000 425,000 16,500 860,600 Income Tax Expense: Continuing Operations Income Tax Expense: Income from Discontinued Operations 2,800