Exercise 4-2 (Algo) Income statement format; single step and multiple step [LO4-1] The following is a partial trial balance for the Green Star Corporation as of December 31, 2024: 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 Required: Debits Credits $ 1,500,000 37,000 57,000 $ 760,000 195,000 82,000 47,000 137,000 1. Prepare a single-step income statement by inserting the amounts above into the appropriate section. 2. Prepare a multiple-step income statement by inserting the amounts above into the appropriate section. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a single-step income statement by inserting the amounts above into the appropriate section. Revenues and gains: GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2024 Total revenues and gains Expenses and losses: Total expenses and losses Income before income taxes Net income 0 0 0 Required 1 Required 2 > Required 1 Required 2 Prepare a multiple-step income statement by inserting the amounts above into the appropriate section. GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2024 Gross profit Operating expenses: Total operating expenses Operating income Other income (expense): Total other income, net Income before income taxes Net income 0 0 0