The following information was taken from the accounts of Healthy Eats, a delicatessen, at December 31, 2014. The accounts are listed in alphabetical order, and each has a normal balance.

Accounts payable	$	611
Accounts receivable		411
Advertising expense		200
Cash		421
Common stock		211
Cost of goods sold		700
Interest expense		59
Merchandise inventory		340
Prepaid rent		51
Retained earnings		646
Sales revenue		1,110
Salaries expense		240
Rent expense		100
Loss on sale of land		56

Required

Prepare an income statement for the year using the single-step and multi-step approach. (Loss amounts should be indicated by minus sign.)

HEALTHY EATS Single-Step Income Statement For the Year Ended December 31, 2014 Sales revenue Expenses Advertising expense Cost of goods sold Interest expense Salaries expense Rent expense Total expenses Loss on sale of land Net loss HEALTHY EATS Multistep Income Statement For the Year Ended December 31, 2014 Sales revenue Cost of goods sold Gross margin Operating expenses Advertising expense Salaries expense Rent expense Total operating expenses Non-operating Items Interest expense Loss on sale of land Net loss