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please complete, wil give thumbs up. The following is a partial trial balance for the Green Star Corporation as of December 31, 2021 Debits Account
please complete, wil give thumbs up.
The following is a partial trial balance for the Green Star Corporation as of December 31, 2021 Debits 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 Credits 1,990,000 45,000 65,000 840,000 235,000 90,000 55,000 145,000 There were 150,000 shares of common stock outstanding throughout 2021. 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. GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue $ Gain on sale of investments 175,000 42,000 62,000 279,000 $ Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense Interest expense Income tax expense 810,000 220,000 87,000 52.000 Total expenses and losses Income before income taxes 1.169,000 (890,000) Net income Earnings per share Turu Tua Lucu ucun T, CUCI Sales revenue Cost of goods sold Gross profit Operating expenses Selling expense General and administrative expense 0 0 Total operating expenses Operating income Other income (expense) Interest revenue Gain on sale of investments 0 Total other income, net Income before income taxes Pincome tax expense Net income Earnings per share Step by Step Solution
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