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  3. in year 1, kim company sold land for $107.000 cash

In Year 1, Kim Company sold land for $107.000 cash. The land had originally cost...

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Accounting

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In Year 1, Kim Company sold land for $107.000 cash. The land had originally cost $43,000. Also, Kim sold inventory that had cost $199,000 for $284,000 cash. Operating expenses amounted to $39,000. Required a. Prepare a Year 1 multistep income statement for Kim Company KIM COMPANY Income Statement For the year ended December 31, Year 1 Expenses Non-Operating Items b. Assume that normal operating activities grow evenly by 25% during Year 2. Prepare a Year 2 multistep income statement for Kim Company KIM COMPANY Income Statement For the year ended December 31, Year 2 Expenses Non-Operating Items c. Determine the percentage change in net income between Year 1 and Year 2. (Round your answer to one decimal place.) Net income by

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