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In Year 1. Kim Company sold land for $80,000 cash. The land had orifinally cost $60,000, Also, Kim sold liventory that had cost $110,000 for $198,000 cash. Operating expenses amounted to $36,000. b. Assume that normal operating activities grow evenly by 10 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 . c. Determine the percentage change in net income between Year 1 and Year 2. d. Should the stockholders have expected the results determined in Requirement