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 $ 614 414 200 424 214 Cost of goods sold 700 Interest expense 56 Merchandise inventory 310 Prepaid rent 54 Retained earnings, 1/1/Year 1 649 Sales revenue 1,140 Salaries expense 270 Rent expense 100 89 es 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