5 Exercise 4-2 (Static) Income statement format; single step and multiple step [LO4-1] The following is a partial trial balance for the Green Star Corporation as of December 31, 2024: Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Required: Debits Credits $ 1,300,000 30,000 50,000 $ 720,000 160,000 75,000 40,000 130,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a single-step income statement by inserting the amounts above into the appropriate section. Revenues and gains: GREEN STAR CORPORATION. Income Statement For the Year Ended December 31, 2024 Total revenues and gains Expenses and losses: Total expenses and losses