Please use the chart below to complete all the boxes that are left. I'm stuck and I need help asap. Thank you.
Pena Motorsport, Inc. Income Statement
For the Year Ended November 30, 2000
Sales: $824,450.00
Cost of merchandise sold: $460,000.00
Gross profit: $364,450.00
Operating expenses:
Selling expenses: $100,000.00
Administrative expenses: $130,000.00
Total operating expenses: $230,000.00
Income from operation: $134,450.00
Other expenses and income:
Interest expense: $13,200.00
Interest revenue: $5,280.00
Income from continuing operation before income tax: $99,450.00
Income tax expenses: $7,920.00
Income from continuing operation: $91,530.00
Loss from disposal of a segment of the business: $0.00
Less applicable income tax: $0.00
Income before extraordinary items: $91,530.00
Extraordinary items:
Gain on condemnation of land: $0.00
Less applicable income tax: $0.00
Net income: $91,530.00
Earnings per common share:
Income from continuing operation: $1.44
Loss on discontinued operation: $0.00
Income before extraordinary items: $1.44
Extraordinary items: $0.00
Net income: $1.44
Learning Objective 5: The following information was taken from the records of Pena Motorsports, Inc. at November 30, 2025:
Net Income: $107,370
Selling Expenses: $100,000
Common Stock, $20 Par Value: 38,000 shares authorized and issued, $760,000
Preferred Stock, $2 No-Par Value: 130,000 shares issued, $420,000
Income from Discontinued Operations: $13,200
Income Tax Expense: Continuing Operations: $35,000
Income Tax Expense: Income from Discontinued Operations: $5,280
Cost of Goods Sold: $460,000
Treasury Stock-Common (5,000 shares): $0.00
Net Sales Revenue: $824,450
Prepare a multi-step income statement for Pena Motorsports, Inc. for the fiscal year ended November 30, 2025. Include earnings per share.
