The following is a partial trial balance for the green star corporation as of december 31, 2021: account title debits credits sales revenue 1,800,000 interest revenue 43,000 gain on sale of investments 63,000 cost of goods sold 820,000 selling expenses 225,000 general and administrative expenses 88,000 interest expense 53,000 income tax expense 143,000 there were 100,000 shares of common stock outstanding throughout 2021. required: prepare a single-step income statement for 2021, including eps disclosures. prepare a multiple-step income statement for 2021, including eps disclosures.

2021Multi Step - Income Statement

$ 1,800,000Sales

$ 1,800,000Net Sales Revenues

-$ 820,000Cost of goods sold

-$ 820,000Cost of goods sold

$ 980,000Gross PROFIT

-$ 88,000General and administrative expenses

-$ 225,000Selling expenses

-$ 313,000Operating Expenses

$ 667,000INCOME FROM OPERATIONS

$ 63,000Gain on sale of investments

$ 43,000Interest Revenues

$ 106,000Other Revenues and Gains:

-$ 53,000Interest Expenses

-$ 53,000Other expenses and Loss

$ 720,000NET INCOME AFTER TAXES

-$ 143,000Income Tax Expenses

$ 577,000Net INCOME

$ 5,77EPS

$ 100,000Shares of common stock outstanding

Explanation:

In the Multistep income it's possible to segregate the operative expenses and revenues of the non operative, it also shows the gross profit, which is  

the Net Sales Revenues less the Cost of Goods Sold.  

First it's shown the Gross Profit, then substracted the operating expenses  

to arrive at operating income.  

Finally with the non operating movements we have the net Income After Taxes and with the taxes expenses we have the Net Income of the company.  

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explanation:

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