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The following information was drawn from the Year 1 accounting records of Ozark Merchandisers 1. Inventory that had cost $20,400 was sold for $36,720 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 $1.254. The merchandise had cost Ozark $760. 3. All customers paid thetr accounts within the discount period, 4. Selling and administrative expenses amounted to $3,672. 5. Interest expense paid amounted to $290. 6. Land that had cost $6.900 was sold for $8,625 cash. 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? Complete this question by entering your answers in the tabs below. Reg A ReqB Reg C and D Determine the amount of net sales. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net Sales ReqB > Complete this question by entering your answers in the tabs below. Req A Req B Reg C and D Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole 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 items 1. Inventory that had cost $20,400 was sold for $36.720 under terms 2/20.net/30 2. Customers retumed merchandise to Ozark five days after the purchase. The merchandise had been sold for a price of $1,254. The merchandise had cost Ozark $760, 3. All customers paid their accounts within the discount period 4 Setting and administrative expenses amounted to $3,672 5. Interest expense paid amounted to $290, 6. Land that had cost $6,900 was told for $8,625 cash. 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? Complete this question by entering your answers in the tabs below. Rega Rega 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 sale of land shown? is shown in