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

The following is a partial trial balance for the Green Star Corporation as of December 31, 2021:

Account Title Debits Credits
Sales revenue 2,100,000
Interest revenue 49,000
Gain on sale of investments 69,000
Cost of goods sold 880,000
Selling expenses 255,000
General and administrative expenses 94,000
Interest expense 59,000
Income tax expense 149,000


There were 100,000 shares of common stock outstanding throughout 2021.

Required:

  1. Prepare a single-step income statement for 2021, including EPS disclosures.

  2. Prepare a multiple-step income statement for 2021, including EPS disclosures.

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Green Star Corporation

Single step income statement for 2021, including eps disclosures

Multiple-step income statement for 2021, including EPS disclosures –

ekkarill92 answered 2 years ago
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