The following information was drawn from the records of Toner Sales Company: 8 points Net sales Cost of goods sold Operating expenses Loss on the sale of land Year 1 $200,000 (90,000) (60,000) 0 Year 2 $200,000 (80,000) (50,000) (24,000) 8 01:18:23 Required: a. Prepare a'multistep income statement for each year. (Amounts to be deducted should be indicated TONER SALES COMPANY Multistep Income Statement For the Years Ended December 31, Year 1 and Year 2 Year 1 Year 2 0 0 0 0 $ 0 $ 0