2 In Year 1, Kim Company sold land for $106,000 cash. The land had originally cost $51,000. Also, Kim sold inventory that had cost $184,000 for $290,000 cash. Operating expenses amounted to $36,000. Required a. Prepare a Year 1 multistep income statement for Kim Company ints KIM COMPANY Income Statement For the year ended December 31, Year 1 eBook Print 0 Expenses References 0 Non-Operating Items 0 b. Assume that normal operating activities grow evenly by 17% during Year 2. Prepare a Year 2 multistep income statement for Kim Company KIM COMPANY Income Statement For the year ended December 31, Year 2 Ster 3 & 4 - Exercises Saved 2 b. Assume that normal operating activities grow evenly by 17% during Year 2. Prepare a Year 2 multistep income statement for Kim Company KIM COMPANY Income Statement For the year ended December 31, Year 2 Book 0 Expenses int 0 Non-Operating Items rences $ 0 c. Determine the percentage change in net income between Year 1 and Year 2. (Round your answer to one decimal place.) Nel income by % 0 Non-Operating Items $ 0 . nt c. Determine the percentage change in net income between Year 1 and Year 2. (Round your answer to one decimal place.) nces Net income by % d. Should the stockholders have expected the results determined in Requirement c? Yes ONo