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I need help preparing a single-step and a multi-step income statement for the following: The following is a partial trial balance for General Lighting Corporation

I need help preparing a single-step and a multi-step income statement for the following:

The following is a partial trial balance for General Lighting Corporation as of December 31, 2018:

Account Title

Sales revenue2,350,000

Interest revenue80,000

Loss on sale of investments 22,500

Cost of goods sold1,200,300

Loss from write-down of inventory due to obsolescence 200,000

Selling expenses 300,000

General and administrative expenses 150,000

Interest expense 90,000

300,000 shares of common stock were outstanding throughout 2018. Income tax expense has not yet been recorded. The income tax rate is 40%.

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