accounting question

Multiple-Step Income Statement On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $170,000 Inventory $1,016,700 Accumulated Depreciation-Building 755,900 Notes Payable 287,750 Administrative Expenses 549,000 Office Supplies 19,700 Building 2,402,200 Retained Earnings 1,343,550 Cash 167,950 Salaries Payable 7,700 Common Stock 290,250 Sales 6,295,250 Cost of Goods Sold 3,934,750 Selling Expenses 694,200 Dividends 167,050 Store Supplies 91,150 Interest Expense 9,500 a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Y9. Royal Furnishings Company Income Statement For the Year Ended March 31, 20Y9 Gross profit Expenses:Cost of Goods Sold 3,934,750 Selling Expenses 694,200 Dividends 167,050 Store Supplies 91,150 Interest Expense 9,500 a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Y9. Royal Furnishings Company Income Statement For the Year Ended March 31, 20Y9 Gross profit Expenses: Total expenses Other expense: b. What is a major advantage of the multiple-step income statement over the single-step income statement