Question

The following is a partial trial balance for General Lighting Corporation as of December 31, 2011:


300,000 shares of common stock were outstanding throughout 2011. Income tax expense has not yet been accrued. The income tax rate is 40%.

Required:
1. Prepare a single-step income statement for 2011, including EPS disclosures.
2. Prepare a multiple-step income statement for 2011, including EPSdisclosures.


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  • CreatedJune 24, 2013
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