In 2016, Kim Company sold land for $107,000 cash. The land had originally cost $46,000. Also, Kim sold inventory that had cost $197,000 for $289,000 cash. Operating expenses amounted to $37,000 Required a. Prepare a 2016 multistep income statement for Kim Company KIM COMPANY Income Statement For the year ended December 31, 2016 Expenses Non-Operating Items