The following is a partial trial balance for the Green Star Corporation as of De

ID: 2479501 • Letter: T

Question

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

Sales revenue 2,050,000 (credit)

Interest revenue 48,000 (credit)

Gain on sale of investments 68,000 (credit)

Cost of goods sold 870,000 (debit) Selling expense 250,000 (debit)

General and administrative expenses 93,000 (debit)

Interest expense 58,000 (debit)

Income tax expense 148,000 (debit)

150,000 shares of common stock were outstanding throughout 2013

Prepare a multiple-step income statement for 2013, including EPS disclosures

income statement

sale 2050000

interest revenue 48000

gain on sale of investment 68000

COGS (870000)

Selling expense (250000)

general and admin exp (93000)

interst exp (58000)

profit before tax 895000

tax exp (148000)

profit fro share holder 747000

common stock 150000

EPS $4.98/share

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