The following is a partial trial balance for General Lighting Corporation as of December 31, 2016: Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Loss from write-down of inventory due to Debits Credits 2,950,000 92,000 28,500 1,310,000 320,000 obsolescence Selling expenses General and administrative expenses Interest expense 420,000 210,000 91,000 300,000 shares of common stock were outstanding throughout 2016. Income tax expense has not yet been recorded. The income tax rate is 40%. Required: 1. Prepare a single-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2016 0 0 0 Earnings per share 2. Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2016 Earnings per share