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Check my work The following is a partial trial balance for General Lighting Corporation as of December 31, 2021: Debits 10 points Credits 2,800,000 89,000
Check my work The following is a partial trial balance for General Lighting Corporation as of December 31, 2021: Debits 10 points Credits 2,800,000 89,000 Account Title Sales revenue 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 27,000 1,280,000 290,000 390,000 195,000 88,000 eBook Hint Print References There were 200,000 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. 2. Prepare a multiple-step income statement for 2021, including EPS disclosures
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