E 4-3 Income statement format; single step and multiple step 104-1, L04-3, L04-5 The following is a partial trial balance for General Lighting Corporation as of December 31, 2021: E4-3 part 2 only Account Title Debits Credits Sales revenue $ 2,350,000 80,000 $ Interest revenue Loss on sale of investments Cost of goods sold Loss on inventory write-down (obsolescence) Selling expense General and administrative expense Interest expense 22,500 1,200,300 200,000 300,000 150,000 90,000 There were 160,000 shares of common stock outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25%. Required: 1. Prepare a single-step income statement for 2021, including EPS disclosures. Be sure to include appropriate headings and subtotal titles. An example of a single-step income statement can be found in Illustration 4-3 of this chapter. 2. Prepare a multiple-step income statement for 2021, including EPS disclosures. Be sure to include appropriate headings and subtotal titles. An example of a multiple-step income statement can be found in Illustration 4-4 of this chapter