Accounts payable 606 Accounts receivable 406 Advertising expense 200 Cash 416 Common stock 206 Cost of goods sold 600 Interest expense 64 Merchandise inventory 390 Rent expense Prepaid rent Retained earnings, 1/1/Year 2 Sales revenue Salaries expense Gain on sale of land 46 641 1,060 190 100 101 Required Prepare an Income statement for the year using the single-step and multistep approach Complete this question by entering your answers in the tabs below. Single step Multistep Prepare an income statement for the year using the single-step approach. (Enter any losses with a minus sign.) Expenses GREEN MARKET Single-Step Income Statement For the Year Ended December 31, Year 2 Total cost and expenses Net income (loss)