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The following is a partial trial balance for the Green Star Corporation as of December 31, 2016: Account Title Debits Credits Sales revenue 1,750,000 Interest
The following is a partial trial balance for the Green Star Corporation as of December 31, 2016: Account Title Debits Credits Sales revenue 1,750,000 Interest revenue 42,000 Gain on sale of investments 62,000 Cost of goods sold 810,000 Selling expenses 220,000 General and administrative expenses 87,000 Interest expense 52,000 Income tax expense 142,000 150,000 shares of common stock were outstanding throughout 2016. 1. Prepare a single-step income statement for 2016, including EPS disclosures. (Round EPS answer to 2 decimal places.) GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2016 Revenues and gains: Total revenues and gains Expenses and losses: Total expenses and losses Income before income taxes Earnings per share 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 answer to 2 decimal places.) GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2016 Operating expenses: Total operating expenses Other income (expense): Total other income, net Income before income taxes Earnings per share
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