The following information was taken from the accounts of Green Market, a delicatessen, at December 31, Year 2. The accounts are listed in alphabetical order, and each has a normal balance. Accounts payable Accounts receivable Advertising expense Cash Common 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 $ 607 407 200 417 207 600 63 380 47 642 1,070 200 100 112 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 Multistep step Prepare an income statement for the year using the single-step approach. (Enter any losses with a minus sign.) GREEN MARKET Single-Step Income Statement For the Year Ended December 31, Year 2 Expenses Total cost and expenses 0 Net income (loss) The following Information was taken from the accounts of Green Market, a delicatessen, at December 31, Year 2. The accounts are listed in alphabetical order, and each has a normal balance. 200 Accounts payable $ 607 Accounts receivable 407 Advertising expense Cash 417 Common stock 207 Cost of goods sold 600 Interest expense 63 Merchandise inventory 380 Prepaid rent 47 Retained earnings, 642 1/1/Year 2 Sales revenue 1,070 Salaries expense Rent expense 100 Gain on sale of land 112 200 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 Multistep step 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 0 Operating expenses Total operating expenses Operating income (loss) Non-operating items 0 0 Net income (loss