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 $ 603 403 200 413 203 Cost of goods sold 600 Interest expense 67 Merchandise inventory 420 Prepaid rent 43 Retained earnings, 1/1/Year 1 638 Sales revenue 1,030 Salaries expense 160 Rent expense 100 68 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 Expenses GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Total cost and expenses Net income (loss) 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) 0