E5-5 LO 5.4 LO 5.6 LO 5.8 Multiple-Step and Single-Step Income Statements The following items were derived from Gold Company's December 31 adjusted trial balance: Cost of goods sold $101,000 Loss from strike (pretax) $9,000 Sales 195,000 Selling expenses 28,000 General and administrative expenses 20,000 Interest revenue 4,000 Additional data: 1. Seven thousand shares of common stock have been outstanding the entire year. 2. The income tax rate is 30% on all items of income. Required: 1. Prepare a multiple-step income statement. 2. Prepare a single-step income statement. 3. Next Level Discuss how Gold Company's income statement in Requirement 1 might be different if it used IFRS