5 Exercise 4-14A (Algo) Single-step and multistep income statements LO 4-6 Check my work 9 nts The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 1. 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 eBook Hint Cost of goods sold Ask Merchandise inventory Prepaid rent $ 612 412 200 422 212 700 58 330 52 647 1,120 250 100 67 Interest expense Retained earnings, 1/1/Year 1 Sales revenue Salaries expense Rent expense Gain on sale of land Required: Prepare an income statement for the year using the single-step and multistep approach. Note: Enter values in thousands of dollars. Amounts to be deducted and losses should be indicated with a minus sign. Single-step