The following information was taken from the accounts of Green Market, a delicatessen, at December 31, 2018. The accounts are listed in alphabetical order, and each has a normal balance Accounts payable Accounts receivable Advertising expense Cash Common stock Cost of goods sold Interest expense Merchandise inventor Prepaid rent Retained earnings, 1/1/2018 ales revenue Salaries expense Rent expense Gain on sale of land $ 800 2,250 600 1,850 2,000 2,950 120 1,250 720 2,610 5,600 960 510 200 Required Prepare an income statement for the year using the single-step and multistep approach Complete this question by entering your answers in the tabs below Single step Multistep Prepare an income statement for the year using the single-step approach GREEN MARKET Single-Step Income Statement For the Year Ended December 31, 2018 Sales revenue 5,600 Expenses Cost of goods sold Advertising expense Interest expense Salaries expense Rent expense (2,950) (600) (120) (960) 510) Total cost and expenses (5,140) Single step Multistep Prepare an income statement for the year using the multistep app GREEN MARKET Multistep Income Statement For the Year Ended December 31, 2018 Sales revenue Cost of goods sold Gross margin Operating expenses 5,600 (2950) 2,650 Salaries expense Advertising expense Rent expense (960) (600) (510) Total operating expenses Operating income Non-operating items (2,070) 580 Gain on sale of land 200 780