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what am i doing wrong? what information is missing? preparing a single amd multple step income statment for 2021

The following is a partial trial balance for General Lighting Corporation as of December 31, 2021 Debits Credits 3,850, een 94,000 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 29,500 1,330, eee 340,000 440,000 220,000 93,000 There were 300,000 shares of common stock outstanding throughout 2021. Income tax expense has not yet been recorded. The income tax rate is 25%, 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 Required 1 Required 2 Prepare a single-step income statement for 2021, including EPS disclosures. (Round EPS answer to 2 de GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Revenues and gains: Sales revenue $ 3,050,000 Interest revenue 94,000 3,144,000 Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense Interest expense Loss on sale of investments Loss on inventory write-down $ 1,330,000 440,000 220,000 93,000 29,500 340,000 Revenues and gains: Sales revenue Interest revenue $ 3,050,000 94,000 3,144,000 Total revenues and gains Expenses and losses: Cost of goods sold Selling expense General and administrative expense Interest expense Loss on sale of investments Loss on inventory write-down $ 1,330,000 440,000 220,000 93,000 29,500 340,000 Total expenses and losses Income before income taxes Income tax expense Net income Earnings per share > 2,452,500 691,500 257,875 X $ 433,625 X $ 1.45 X Prepare a multiple-step income statement for 2021, including EPS disclosures. (Round EPS answert Amounts to be deducted should be indicated with a minus sign.) GENERAL LIGHTING CORPORATION Income Statement For the Year Ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Operating expenses: Selling expense $ 440,000 General and administrative expense 220,000 $ 3,050,000 1,330,000 1,720,000 660,000 1,060,000 Total operating expenses Operating income Other income (expense): Interest revenue Interest expense 94,000 (93,000) 1,720,000 Gross profit Operating expenses: Seling expense General and administrative expense CA >> 440,000 220,000 660,000 1,060,000 Total operating expenses Operating income Other income (expense): Interest revenue Interest expense Loss on sale of investments 94,000 (93,000) (29,500) >> > Total other income (expense), net Income before income taxes Income tax expense Net income Earnings per share (28,500) 1,031,500 257,875 % $ 773,625 S 2.58 X

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