The following is a partial trial balance for General Lighting Corporation as of December 31, 2021: Debits Credits 2,35e,eee 80,000 Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Loss on inventory write-down (obsolescence) Selling expense General and administrative expense Interest expense 22,5ee 1,200, 30e zee, eee 3ee,eee 15e,eee 90. Bee 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. Answer is not complete. 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 decimal places. Amounts to be deducted should be indicated with a minus sign.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Sales revenue $ 2,350.000 Cost of goods sold 1.200,300 Gross profit 1,149,700 Operating expenses Seling expense $ 300.000 General and administrative expense 150,000 Loss on inventory write-down 200,000 OOO 850,000 499.700 Total operating expenses Operating income Other income expense): Interest revenue Loss on sale of investments Interest expense OOO 80.000 (22.500) (90,000) Total other income (expense), het Income before income taxes Income tax expense Net income Earnings per share > (32,500) 467,200 188,880 $ 280 320 S 0.93