Accounts payable $ 611 Accounts receivable 411 Advertising expense 200 Cash 421 Common stock 211 Cost of goods sold 700 Interest expense 59 Merchandise inventory 340 Prepaid rent 51 Retained earnings, 1/1/Year 2 646 Sales revenue 1, 110 Salaries expense 240 Rent expense 100 Gain on sale of land 56 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 multistep approach. (Enter any losses with a minus sign.) GREEN MARKET Multistep Income Statement For the Year Ended December 31, Year 2 Operating expenses Total operating expenses Operating income (loss) Non-operating items Mc Graw