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Prepare a Year 1 multistep income statement for Kim Company. Exercise 4-13A (Algo) Multistep income statement LO 4-6 In Year 1, Kim Company sold land for $112,000 cash. The land had originally cost $54,000. Also, Kim sold inventory that had cost $197,000 for $277,000 cash, Operating expenses amounted to $41,000. Required a. Prepare a Year 1 multistep income statement for Kim Company. b. Assume that normal operating activities grow evenly by 28 percent during Year 2 . Prepare a Year 2 multistep income statement for Kim Company. c. Determine the percentage change in net income between Year 1 and Year 2. d. Should the stockholders have expected the Fesults determined in Requirement c ? Complete this question by entering your answers in the tabs below. Prepare a Year 1 multistep income statement for Kim Company. Complete this question by entering your answers in the tabs below. c. Determine the percentage change in net income between Year 1 and Year 2. (Round your answer to one decimal place.) d. Should the stockholders have expected the results determined in Requirement c