3 eBook Show Me How Print Item Multiple-Step income Statement On March 31, 2018, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture wholesaler, are as follows: Accounts Receivable $170,000 Inventory 938,350 Accumulated Depreciation - Building 741,300 Notes Payable 277,450 Administrative Expenses 523,250 Office Supplies 20.500 Building 2.399,150 Retained Earnings 1,265,800 182.400 Cash 8,250 Salaries Payable Common Stock 301.950 sales 6,319,300 3,781,150 Cost of Goods Sold 713,900 Selling Expenses 174,950 Dividends 90,950 Store Supplies 9,850 Interest Expense a. Prepare a multiple step income statement for the year ended March 31, 2018 Royal Furnishings Company Income Statement For the Year Ended March 31, 2018 10 Gross profit Expenses