Che Exercise 4-14A (Algo) Single-step and multistep income statements LO 4-6 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 Cost of goods sold Interest expense Merchandise inventory Prepaid rent Retained earnings, 1/1/Year 1 Sales revenue Salaries expense Rent expense Gain on sale of land $ 608 408 200 418 208 600 62 370 48 643 1,089 210 lee 123 Required Prepare an income statement for the year using the single-step and multistep approch (Enter values in thousands of dollars. Amounts to be deducted and losses should be indicated with a minus sign.) Single-step GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Expenses Check 2 Multistep GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Book Operating expenses int n Total operating expenses Operating income (loss) Non-operating items Net Income (loss) e to search RI