The following information was drawn from the Year 1 accounting records of Ozark Merchandisers: 1. Inventory that had cost $15,600 was sold for $23,400 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 $550. The merchandise had cost Ozark $440. 3. All customers paid their accounts within the discount period. 4. Selling and administrative expenses amounted to $2,340. 5. Interest expense paid amounted to $210. 6. Land that had cost $6,100 was sold for $7,320 cash. Required a. Determine the amount of net sales. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Net sales b. Prepare a multistep income statement. (Round your intermediate calculations and final answer to the nearest whole dollar 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