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. Dollar amounts are given in thousands.

Accounts payable	$ 609
Accounts receivable	409
Advertising expense	200
Cash	419
Common stock	209
Cost of goods sold	700
Interest expense	61
Merchandise inventory	360
Prepaid rent	49
Retained earnings, 1/1/Year 2	644
Sales revenue	1,090
Salaries expense	220
Rent expense	100
Gain on sale of land	34

Required Prepare an income statement for the year using the single-step and multistep approach.