Exercise 4-3 (Algo) Income statement format; single step and multiple step (L04-1, 4-3, 4-5) The following is a partial trial balance for General Lighting Corporation as of December 31, 2021: Debits Credits 3,250,000 98,000 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 31,500 1,370,000 380,000 480,000 240,000 97,000 There were 300,000 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