Question - The following is a partial trial balance for the Green Star Corporation as of December 31, 2018:
Account Title Debits Credits
Sales revenue 1,850,000
Interest revenue 44,000
Gain on sale of investments 64,000
Cost of goods sold 830,000
Selling expenses 230,000
General & administrative expenses 89,000
Interest expense 54,000
Income tax expense 144,000
130,000 shares of common stock were outstanding throughout 2018.
Required:
1. Prepare single-step income statement for 2018, including EPS disclosures.
2. Prepare multiple-step income statement for 2018, including EPS disclosures.