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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 Cost of goods sold 600 64 390 46 Retained earnings, 1/1/Year 2 641 1,060 190 Rent expense 100 101 Interest expense Merchandise inventory Prepaid rent Sales revenue Salaries expense 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 multistep 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 Dro 2 Next > Single Step Multistep Prepare an income statement for the year using the multistep 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 Operating expenses Total operating expenses Non-operating items Net income (loss) 0 0 0 0
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