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The following information was taken from the accounts of Green Market, a delicatessen, at December...

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Accounting

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 $ 603
Accounts receivable 403
Advertising expense 200
Cash 413
Common stock 203
Cost of goods sold 600
Interest expense 67
Merchandise inventory 420
Prepaid rent 43
Retained earnings, 1/1/Year 2638
Sales revenue 1,030
Salaries expense 160
Rent expense 100
Gain on sale of land 68
Required:
Prepare an income statement for the year using the single-step and multistep approach.

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