3 The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 25 points 1. Inventory that had cost $21,000 was sold for $39,900 under terms 2/20, net/30 2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,000. The merchandise had cost Ozark $800. 3. All customers paid their accounts within the discount period. 4. Selling and administrative expenses amounted to $3.990. 5. Interest expense paid amounted to $300 6. Land that had cost $7,000 was sold for $9,100 cash. eBook Hint Required a. Determine the amount of net sales. b. Prepare a multistep income statement c. Where would the interest expense be shown on the statement of cash flows? d. How would the sale of the land be shown on the statement of cash flows? Print References Complete this question by entering your answers in the tabs below. Reg A Reg RC and D Determine the amount of net so uur intermediate calculations and final answer to the nearest whole dollar Reg C and D amount.) Net Sales Raga Req8 > 3 The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 25 points 1. Inventory that had cost $21,000 was sold for $39,900 under terms 2/20, net/30. 2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,000. The merchandise had cost Ozark $800, 3. All customers pald their accounts within the discount period. 4. Selling and administrative expenses amounted to $3,990, 5. Interest expense paid amounted to $300. 6. Land that had cost $7,000 was sold for $9,100 cash. Book Required Hint a. Determine the amount of net sales. b. Prepare a mul income statement c. Where would the interest expense be shown on the statement of cash flows? d. How would the sale of the land be shown on the statement of cash flows? Print References Complete this question by entering your answers in the tabs below. Reg A Red B Reg Cand D Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Amounts to be deducted and losses should be indicated with a minus sign) OZARK MERCHANDISERS Income Statement For the year ended December 31, Year 1 Operating expenses Non-operating tems 3 The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 25 points 1. Inventory that had cost $21,000 was sold for $39,900 under terms 2/20, net/30. 2. Customers returned merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,000. The merchandise had cost Ozark $800. 3. All customers paid their accounts within the discount period, 4. Selling and administrative expenses amounted to $3.990. 5. Interest expense paid amounted to $300. 6. Land that had cost $7,000 was sold for $9,100 cash. eBook Hint Required Print a. Determine the amount of net sales. b. Prepare a multistep income statement c. Where would the interest expense be shown on the statement of cash flows? d. How would the sale of the land be shown on the statement of cash flows? References Complete this question by entering your answers in the tabs below. Rega Rego Reg Cand D c. Where would the interest expense be shown on the statement of cash flows? d. How would the sale of the land be shown on the statement of cash flows? c. Where is interest expense shown? d. How is the salo of land shown?