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LilTJSavage22
LilTJSavage22
17.06.2021 • 
Business

The following is a partial trial balance for the Green Star Corporation as of December 31, 2016: Account TitleDebitsCredits Sales revenue 2,150,000 Interest revenue 50,000 Gain on sale of investments 70,000 Cost of goods sold890,000 Selling expenses260,000 General and administrative expenses95,000 Interest expense60,000 Income tax expense150,000 100,000 shares of common stock were outstanding throughout 2016. Required: 1. Prepare a single-step income statement for 2016, including EPS disclosures. (Round EPS answer to 2 decimal places.)GREEN STAR CORPORATION Income Statement
For the Year Ended December 31, 2021
Revenues and gains:
Total revenues and gains
Expenses and losses:
Total expenses and losses
Income before income taxes
Net income
Earnings per share
2. Prepare a multiple-step income statement for 2021, including EPS disclosures. (Amounts to be deducted should be indicated with a minus sign. Round EPS answer to 2 decimal places.)
GREEN STAR CORPORATION
Income Statement
For the Year Ended December 31, 2021
Gross profit
Operating expenses:
Total operating expenses
Operating income
Other income (expense):
Total other income, net
Income before income taxes
Net income
Earnings per share

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