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Green Star Corporation 2013

Price: $2.50


E4-1 The following is a partial trial balance for the Green Star Corporation as of December 31, 2013

Account Title Debits Credits
Sales revenue 1,300,000
Interest revenue 30,000
Gain on sale of investments 50,000
Cost of goods sold 720,000
Selling expenses 160,000
General and administrative expenses 75,000
Interest expense 40,000
Income tax expense 130,000

100,000 shares of common stock were outstanding throughout 2013.

Required:
1. Prepare a single-step income statement for 2011, including EPS disclosures.
2. Prepare a multiple-step income statement for 2011, including EPS disclosures.

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