Exercise 4-2 Income statement format; single step and multiple step. The following is a partial trial balance for General Lighting Corporation as of December 31, 2013: Account Title Debits Credits Sales revenue 2,650,000 Rental revenue 86,000 Loss on sale of investments 25,500 Loss from flood damage 180,000 Cost of goods sold 1,250,000 Loss from write-down of inventory due to obsolescence 260,000 Selling expenses 360,000 General and administrative expenses 180,000 Interest expense 85,000 300,000 shares of common stock were outstanding throughout 2013. Income tax expense has not yet been accrued. The income tax rate is 40%. Required: 1. Prepare a single-step income statement for 2013, 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 2013, including EPS disclosures.