In 2016, Kim Company sold land for $101,000 cash. The land had originally cost $46,000. Also, Kim sold inventory that had cost $193,000 for $278,000 cash. Operating expenses amounted to $40,000. Required a. Prepare a 2016 multistep income statement for Kim Company. KIM COMPANY ncome Statement For the year ended December 31, 2016 0 Expenses 0 Non-Operating Items 0