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The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed
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. Dollar amounts are given in thousands Accounts payable Accounts receivable Advertising expense Cash Common stock $ 606 406 200 416 206 600 64 Cost of goods sold Interest expense Merchandise Inventory 390 Prepaid rent 46 Retained earnings, 1/1/Year 2 641 Sales revenue 1,060 Salaries expense 190 Rent expense 100 101 Gain on sale of land 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 values in thousands of dollars. Amounts to be deducted and losses should be indicated with a minus sign.) GREEN MARKET Income Statement For the Year Ended December 31, Year 2 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 values in thousands of dollars. Amounts to be deducted and losses should be indicated with a minus sign.) GREEN MARKET Income Statement For the Year Ended December 31, Year 2 Expenses Total cost and expenses Net income (loss) Multistep >
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