Preparing a Single-Step and a Multiple-Step Income Statement Lewis Company's records show the following information at December 31, 2020, its annual year-end. Sales revenue $228,000 Interest expense $9,600 Service revenue 84,000 Earthquake loss on building 36,000 Gain on sale of short-term investments 26,400 Loss on sale of warehouse* 7,200 Selling expense General and administrative expense Depreciation expense (administrative) * Loss on sale of warehouse is considered nonoperating. 43,200 Cost of goods sold 108,000 28,800 Common stock shares outstanding 10,000 shares 14,400 Income tax rate 25% Required a. Prepare a single-step income statement (including earnings per share). b. Prepare a multiple-step income statement (including earnings per share). Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smallest dollar amount. Do not use negative signs with any of your answers. Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Single-step Multiple-step a. Prepare a single-step income statement (including earnings per share). Lewis Company Income Statement For the Year Ended December 31, 2020 Sales revenue Sales revenue Service revenue Gain on sale of short-term investments Total revenues and gains Cost of goods sold Selling expense Earthquake loss on building $ 228,000 84,000 26,400 338,400 43,200 X 36,000 General and administrative expenses 28,800 x Income tax expense 0 Depreciation expense 0 Interest expense = 0 Cost of goods sold 0 Total expenses and losses 0 Net income = 0 Cost of goods sold 0 Depreciation expense " $ 0 Earnings per share $ 0 b. Prepare a multiple-step income statement (including earnings per share). Sales revenue Service revenue Cost of goods sold Lewis Company Income Statement For the Year Ended December 31, 2020 = $ 228,000 84,000 x 108,000 x Operating expenses Selling expenses General and administrative expenses Total operating expenses 43,200 28,800 x Operating income Interest expense 72,000 x 348,000 x = Loss on sale of warehouse Earthquake loss on building = 7,200 x = 36,000 x 36,000 x Gain on sale of short-term investments Income before income taxes 312,000 x Income tax expense = 0 Net income = 0 0% General and administrative expenses = 0 Earthquake loss on building = 0 Earthquake loss on building = $ 0 x Earnings per share $ 0