pter 4 - Homework
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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 in alphabetical order, and all have normal balances. Dollar amounts are given in thousands.
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
Required
$ 603
403
200
413
203
600
67
420
43
638
1,030
160
100
68
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.
Note: 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
0