The following is a partial trial balance for General Lighting Corporation as of December 31, 2021:

Account Title	Debits	Credits
Sales revenue		2,350,000
Interest revenue		80,000
Loss on sale of investments	22,500
Cost of goods sold	1,200,300
Loss on inventory write-down (obsolescence)	200,000
Selling expense	300,000
General and administrative expense	150,000
Interest expense	90,000

There were 160,000 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.