K 1 Prepare an income statement and statement of comprehensive income based on the following information 2 The following is a partial trial balance for General Lighting Corporation as of December 31, 2018 3 Account Title 4 Debits Credits Sales revenue 2,350,000 5 Interest revenue 80,000 Loss on sale of investments 22,500 6 Cost of goods sold 1.200,300 7 Loss from write-down of inventory due to obsolescence 200,000 Selling expenses 300,000 8 General and administrative expenses Interest expense 150,000 9 90,000 10 Information below was not included in the trial balance: The laser lighting division has been unprofitable, and on November 15, 11 2018, GLC adopted a formal plan to sell it. The sale was completed on April 30, 2019. At December 31, 2018, the component was 12 considered held for sale. 13 14 On December 31, 2018, the company's fiscal year-end, the book value of the assets of the division was $250,000. On that date, the 15 fair value of the assets, less costs to sell, was $200,000. The before-tax loss from operations of the division for the year was 16 $140,000. The company's effective tax rate is 10%. In 2018 the company had an unrealized holding loss on investment securities of 17 $80,000 and a positive foreign currency translation adjustment of $240,000 18 19