Question: please answer a b c and d In Year 1, Kim Company sold land for $99,000 cash. The land had originally cost $56,000. Also, Kim

please answer a b c and d In Year 1, Kim

please answer a b c and d

In Year 1, Kim Company sold land for $99,000 cash. The land had originally cost $56,000. Also, Kim sold inventory that had cost $195,000 for $293,000 cash. Operating expenses amounted to $45,000. Required a. Prepare a Year 1 multistep income statement for Kim Company. b. Assume that normal operating activities grow evenly by 22 percent during Year 2 . Prepare a Year 2 multistep income statement for 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

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