S In Year 1, Kim Company sold land for $106,000 cash. The land had originally cost $60,000. Also, Kim sold Inventory that had cost $190,000 for $294,000 cash. Operating expenses amounted to $38,000. Required a. Prepare a Year 1 multistep Income statement for Kim Company. b. Assume that normal operating activities grow evenly by 27 percent during Year 2 Prepare a Year 2 multistep Income statement Kim Company. 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 c? Complete this question by entering your answers in the tabs below. Req A Req B Req C and D Prepare a Year 1 multistep income statement for Kim Company. KIM COMPANY Income Statement For the Year Ended December 31, Year 1 Expenses