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The following is a partial trial balance for the Green Star Corporation as of December 31, 2024: Account Title Sales revenue Interest revenue Gain on
The following is a partial trial balance for the Green Star Corporation as of December 31, 2024: Account Title Sales revenue Interest revenue Gain on sale of investments Cost of goods sold Selling expenses General and administrative expenses Interest expense Income tax expense Required 1 Debits Required: 1. Prepare a single-step income statement by inserting the amounts above into the appropriate section. 2. Prepare a multiple-step income statement by inserting the amounts above into the appropriate section. Required 2 $ 720,000 160,000 75,000 40,000 130,000 Complete this question by entering your answers in the tabs below. Credits $ 1,300,000 30,000 50,000 Revenues and gains: Prepare a single-step income statement by inserting the amounts above into the appropriate section. GREEN STAR CORPORATION Income Statement For the Year Ended December 31, 2024
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