Bluebird Products, Inc. provided the following information from its current- year trial balance.

Required
a. Prepare a single step income statement for the year ended December 31. The tax rate is 40%.
b. Prepare a multiple step income statement for the year ended December 31.

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Bluebird Products, Inc. Trial Balance For the Year Ended December 31 Debit Credit $1,456,000 3.200,950 Account Common Stock (no par Beginning Balance Retained Earnings-Begnning Balance Accumulated Other Comprehensive Income Beginning Balance Dividends Sales Interest Income Dividend Income Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Unrealized Gain on Available-forSale Bonds Cost of Goods Sold Selling Expenses Office Supplies Expense Sales Salaries Expense Advertising Expense Office Salaries Expensea Accounting and Legal Fees-General Systems Consulting Fees-General Depreciation Expense-General Amortization Expense General Interest Expense Loss on Discontinued Operations-Before Tax Loss on Asset Impairment 95,675 $ 76,500 2,200,000 34,500 12,300 100,500 88,000 45,600 750,000 20,000 123,500 55,000 68,900 78,500 10,425 44,550 68,000 34,500 23,750 90,000 12,350