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  3. xercise 4-15a single-step and multistep income sta

xercise 4-15A Single-step and multistep income statements LO 4-3 The following information was taken from...

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xercise 4-15A Single-step and multistep income statements LO 4-3 The following information was taken from the accounts of Green Market, a small grocery store at December 31, 2016. The accounts are listed in alphabetical order, and all have normal balances Accounts payable Accounts receivable Advertising expense Cash S 615 415 200 425 215 700 Common stock Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/2016 Sales revenue Salaries expense Rent expense Gain on sale of land 300 650 1,150 280 100 100 Required Prepare an income statement for the year using the single-step and multistep approach, (Amounts to be deducted should be indicated with minus sign.) Single-step GREEN FOODS MARKET Income Statement er 31, 2016 Total revenue plus gains 1.150 Expenses Cost of goods sold Advertising exponse nterest expense Salaries e Rent expense Gain on sale of land 100 4

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