E5-8 Multiple-Step and Single-Step Income Statements The following items were derived from Gold Compe LO 5.4 December 31, 2016, adjusted trial balance: LO 5.6 LO 5.8 Cost of goods sold $ 9,000 28,000 4,000 $101,000 Loss from strike (pretax) Sales General and administrative expenses 195,000 Selling expenses 20,000 Interest revenue Additional data 1. Seven 2. The income tax rate is 30% on all items of income. n thousand shares of common stock have been outstanding the entire year. Required: 1. Prepare a 2016 multiple-step income statement. Prepare a 2016 single-step income statement. 3. Next Level Discuss how Gold Company's income statement in Requirement 1 might be different ifit IFRS. /E5-9 Income Statement Deficiencies David Company's incoma LO 5.5 December 31, 2016, are presented