Please show your work

#1.

#2

Income For the Year Ended December 2011 Revenues and gains: Sales revenue $ 3,050,000 94,000 Interest revenue 3,144.000 Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense s 1,330,000 440,000 220.000 Interest expense 93.000 29.500 340.000 Loss on sale of investments Loss on inventory write-down 2,452,500 Total expenses and losses 691 500 Income before income taxes Income tax expense 17.825 X 873.675 x 09 Net income s 1.47 X Re The following is a partial trial balance for General Lighting Corporation as of December 31, 2021 Debits Credits 3,050,000 94,000 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 29,500 1,330,000 340,000 440,00 220,00 93,000 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 For the Year Ended Decumber 31, 2021 Sales revenue 2,460,000 1,470,000 990,000 423,000 567,000 Cost of goods sold Gross profit Operating expenses Selling and administrative expense Operating income Other income (expense) Interest expense Income before income taxes Income tax expense Net income Other comprehensive income (net of tax) Gain on debt securities Comprehensive income Earnings per share 47,000 2,037,000 488,592 1,548,408 CASA 65,250 1,613,658 0.04 X 2 of 10 Next Prey Retur The trial balance for Lindor Corporation, a manufacturing company, for the year ended December 31, 2021, included the following accounts: Debits Credits 2,460,000 Account Title Sales revenue Cost of goods sold Selling and administrative expense Interest expense Gain on debt securities 1,470,000 423,000 47,000 87,000 The gain on debt securities is unrealized and classified as other comprehensive income. The trial balance does not include the accrual for income taxes. Lindor's income tax rate is 25% There were 1,500,000 shares of common stock outstanding throughout 2021 Required: Prepare a single, continuous multiple-step statement of comprehensive income for 2021, including appropriate EPS disclosures. (Round EPS answer to 2 decimal places.)