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Could you PLEASE figure what I missed ? The following is a partial trial balance for the Green Star Corporation as of December 31, 2021:
Could you PLEASE figure what I missed ?
The following is a partial trial balance for the Green Star Corporation as of December 31, 2021: Debits Credits 1,300,000 30,000 50,000 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 720,000 160,000 75,000 40,000 130,000 There were 100,000 shares of common stock outstanding throughout 2021. 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. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal places.) GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: $ Sales revenue 1,300,000 Interest revenue 30,000 Gain on sale of investments 50,000 1,380,000 Total revenues and gains Expenses and losses: Cost of goods sold $ 720,000 160,000 Selling expense General and administrative expense Interest expense SOS 75,000 40,000 Total expenses and losses Income before income taxes Income tax expense Net income Earnings per share 995,000 385,000 130,000 $ 2.55 Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative 1,300,000 30,000 50,000 720,000 160,000 75,000 expenses Interest expense Income tax expense 40,000 130,000 There were 100,000 shares of common stock outstanding throughout 2021. 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. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required 1 2 Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.) Show less A GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 $ Sales revenue 1,300,000 Cost of goods sold 720,000 580,000 Gross profit Operating expenses: Selling expense 160,000 General and administrative expense 75,000 235,000 345,000 Total operating expenses Operating income Other income (expense): Interest revenue Interest expense Gain on sale of investments 30,000 (40,000) 50,000 Total other income, net Income before income taxes Income tax expense Net income 40,000 385,000 130,000Step by Step Solution
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