The following is a partial trial balance for General Lighting Corporation as of December 31, 2016:

Account Title	Debits			Credits
Sales revenue					3,200,000
Interest revenue					97,000
Loss on sale of investments		31,000
Cost of goods sold		1,360,000
Loss from write-down of inventory due to obsolescence		370,000
Selling expenses		470,000
General and administrative expenses		235,000
Interest expense		96,000

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. (Round EPS answers to 2 decimal places.)

2.	Prepare a multiple-step income statement for 2016, including EPS disclosures. (Round EPS answers to 2 decimal places.)