Exercise 4-3 (Algo) Income statement format; single step and multiple step [LO4-1, 4-3, 4-5] The following is a partial trial balance for General Lighting Corporation as of December 31, 2021: 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 Debits Credits 3,000,000 93,000 29,000 1,320,000 330,000 430,000 215,000 92,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal places.) Required 1 Required 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal places.) Revenues and gains: GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Total revenues and gains Expenses and losses: Total expenses and losses Income before income taxes Net income Earnings per share < Required 1 Required 2 > Prepare a multiple-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal places. Amounts to be deducted should be indicated with a minus sign.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Gross profit Operating expenses: Total operating expenses Operating income Other income (expense): Total other income (expense), net Income before income taxes Net income Earnings per share