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.

Accounts payable	$	800
Accounts receivable		2,250
Advertising expense		600
Cash		1,850
Common stock		2,000
Cost of goods sold		2,950
Interest expense		120
Merchandise inventory		1,250
Prepaid rent		720
Retained earnings, 1/1/Year 1		2,610
Sales revenue		5,600
Salaries expense		960
Rent expense		510
Gain on sale of land		200

Required Prepare an income statement for the year using the single-step and multistep approach. (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 Total cost and expenses Net income Multistep GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Cost of goods sold Operating expenses Total operating expenses Non-operating items