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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, 2018:

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 expenses 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 2018.

Required:
1. Prepare a single-step income statement for 2018, including EPS disclosures.
2. Prepare a multiple-step income statement for 2018, including EPS disclosures.

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ekkarill92 answered 2 years ago
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