The following is a partial trial balance for the Green Star Corporation as of December 31, 2024:

Required:
1. Prepare a single-step income statement by inserting the amounts above into the appropriate section.
2. Prepare a multiple-step income statement by inserting the amounts above into the appropriate section.

Transcribed Image Text:

Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expense General and administrative expense Interest expense Income tax expense Debits $720,000 160,000 75,000 40,000 130,000 Credits $1,300,000 30,000 50,000