The following information was taken from the accounts of Green Market, a small grocery store, at December 31, Year 2. The accounts are listed in alphabetical order, and all have normal balances.

Accounts payable	$	603
Accounts receivable		403
Advertising expense		200
Cash		413
Common stock		203
Cost of goods sold		600
Interest expense		67
Merchandise inventory		420
Prepaid rent		43
Retained earnings, 1/1/Year 2		638
Sales revenue		1,030
Salaries expense		160
Rent expense		100
Gain on sale of land		68

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

Multistep

GREEN MARKET Income Statement For the Year Ended December 31, Year 1 Expenses Total cost and expenses Net income (loss) 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)