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

Account Title	Debits			Credits
Sales revenue					3,300,000
Interest revenue					99,000
Loss on sale of investments		32,000
Cost of goods sold		1,380,000
Loss from write-down of inventory due to obsolescence		390,000
Selling expenses		490,000
General and administrative expenses		245,000
Interest expense		98,000

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. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)

2.

Prepare a multiple-step income statement for 2016, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)