Preparing a detailed income statement [25-35 min]The following information was taken from...

Preparing a detailed income statement [25-35 min]

The following information was taken from the records of Clarkson Motorsports, Inc., at November 30, 2012:

Requirement

1. Prepare a multi-step income statement for Clarkson Motorsports for the fiscal year ended November 30, 2012. Include earnings per share.