2 Exercise 4-14A Single-step and multistep Income statements LO 4-3 1.42 points The following Information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2 The accounts are listed in alphabetical order, and all have normal balances. . eBook Hin Accounts payable Accounts receivable Advertising expense Cash Connon stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Rent expense Gain on sale of land $ 609 489 200 419 299 0 700 61 360 49 644 1,098 220 100 34 Print References Required Prepare an Income statement for the year using the single-step and multistep approach. (Amounts to be deducted and losses should be indicated with a minus sign.) Single-step GREEN MARKET Income Statement For the Year Ended December 31. Year 1 Expenses Total cost and expenses Net income (loss) Multistep GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Operating expenses Total operating expenses Operating income (loss) Non-operating items Net income (loss)