The following is a partial trial balance for General Lighting Corporation as of December 31, 2021 Debits Credits 3,150,000 96,009 Account Title Sales revenue Interest revenue Loss on sale of investments Cost of goods sold Loss on inventory write-down (obsolescence) Selling expense General and administrative expense Interest expense 30,500 1,350,000 360,000 460,000 230,000 95,000 There were 400,000 shares of common stock outstanding throughout 2021. Income tax expense has not yet been recorded. income tax rate is 25%. Required: 1. Prepare a single-step income tement for 2021, including EPS disclosures. 2. Prepare a multiple-step income statement for 2021, including EPS disclosures. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 decimal places.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Interest revenue Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a single-step income statement for 2021, including EPS disclosures. (F GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Interest revenue 0 $ Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense Loss on sale of investments Loss on inventory write-down Interest expense 1,350,000 460,000 230,000 30,500 360,000 95,000 Total expenses and losses Income before income taxes Income tax expense Net income 2,525,500 (2,525,500) 631,375 174,500 $ Earnings per share $ 4.93