Question: Exercise 4-2 Income statement format; single step and multiple step [LO4-1, 4-5] The following is a partial trial balance for the Green Star Corporation as

Exercise 4-2 Income statement format; single step and multiple step [LO4-1, 4-5]

The following is a partial trial balance for the Green Star Corporation as of December 31, 2018:

Account Title Debits Credits
Sales revenue 1,350,000
Interest revenue 34,000
Gain on sale of investments 54,000
Cost of goods sold 730,000
Selling expenses 180,000
General and administrative expenses 79,000
Interest expense 44,000
Income tax expense 134,000

100,000 shares of common stock were outstanding throughout 2018. Required: 1. Prepare a single-step income statement for 2018, including EPS disclosures. 2. Prepare a multiple-step income statement for 2018, including EPS disclosures.

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