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

Account Title	Debits	Credits
Sales revenue		2,600,000
Interest revenue		85,000
Loss on sale of investments	25,000
Cost of goods sold	1,240,000
Loss on inventory write-down (obsolescence)	250,000
Selling expense	350,000
General and administrative expense	175,000
Interest expense	84,000

There were 340,000 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.

Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue Interest revenue Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense Interest expense Loss on sale of investments Loss on inventory write-down Total expenses and losses Income before income taxes Income tax expense Net income Earnings per share Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a multiple-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decir Amounts to be deducted should be indicated with a minus sign.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Gross profit Operating expenses Total operating expenses Operating income Other income (expense): 0 Total other income (expense), net Income before income taxes Net income Earnings per share