The following is a partial trial balance for the Green Star Corporation as of December 31. 2016:
|
Account Title
|
Debits
|
Credits
|
|
Sales revenue
|
|
1.300.000
|
|
Interest revenue
|
|
30.000
|
|
Gain on sale of investments
|
|
50.000
|
|
Cost of goods sold
|
720.000
|
|
|
Selling expenses
|
160.000
|
|
|
General and administrative expenses
|
75.000
|
|
|
Interest expense
|
40.000
|
|
|
Income tax expense
|
130.000
|
|
100.000 shares of common stock were outstanding throughout 2016.
Required:
1. Prepare a single-step income statement for 2016. including EPS disclosures. (Round EPS answer to 2 decimal places.)
2. Prepare a multiple-step income statement for 2016. including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)