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

Account Title	Debits	Credits
Sales revenue		2,500,000
Interest revenue		83,000
Loss on sale of investments	24,000
Cost of goods sold	1,220,000
Loss on inventory write-down (obsolescence)	230,000
Selling expense	330,000
General and administrative expense	165,000
Interest expense	82,000

There were 200,000 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.

Sorry, I'm not sure how to calculate the last three

• Required 1
• Required 2

Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal places.)

GENERAL LIGHTING CORPORATION
Income Statement
For the Year Ended December 31, 2021
Revenues and gains:
Sales revenue		$2,500,000
Interest revenue		83,000
Total revenues and gains		2,583,000
Expenses and losses:
Cost of goods sold	$1,220,000
Selling expense	330,000
General and administrative expense	165,000
Loss on sale of investments	24,000
Interest expense	82,000
Loss on inventory write-down	230,000
Total expenses and losses		2,051,000
Income before income taxes		532,000
Income tax expense
Net income
Earnings per share