Prepare a single-step income statement for 2013


The following is a partial trial balance for the Green Star Corporation as of December 31, 2013:

  Account Title     Debits    Credits
  Sales revenue
1,550,000    
  Interest revenue
38,000    
  Gain on sale of investments
58,000    
  Cost of goods sold 770,000    
  Selling expense 200,000    
  General and administrative expenses 83,000    
  Interest expense 48,000    
  Income tax expense 138,000    

110,000 shares of common stock were outstanding throughout 2013.
Required:
1.

Prepare a single-step income statement for 2013, including EPS disclosures. (Round EPS answer to 2 decimal places.)

2.

Prepare a multiple-step income statement for 2013, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)

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Accounting Basics: Prepare a single-step income statement for 2013
Reference No:- TGS0679865

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