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 Yeart. 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 $ 605 405 300 415 205 600 65 400 45 640 1.050 130 100 90 Required Prepare an income statement for the year using the single step and multistep approach (Enter values in thousands of dollars. Amounts to be deducted and losses should be indicated with a minus sign.) Single-step GREEN MARKET income Stament For the Year Ended December 31, Year 1 Expenses Www Total cost and expenses Net income oss Multistep GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Operating expenses Total operating expenses Operating income (loss) Non-operating items Net income (loss)