BUUR UNGTIUW WE NOW On March 31, 2014, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: $740,550 Merchandise Inventory $989,050 Accumulated Depreciation-Building Administrative Expenses 563,400 Notes Payable 242,800 Building 2,463,500 Office Supplies 19,200 Cash 173,850 Salaries Payable 7,700 Cost of Merchandise Sold 3,633,300 Sales 6,213,650 Interest Expense 9,800 Selling Expenses 701,100 Kathy Melman, Capital 1,648,900 Store Supplies 93,400 Kathy Melman, Drawing 183,350 a. Prepare a multiple-step income statement for the year ended March 31, 2014. Danns Furnishings Company Income Statement For the Year Ended March 31, 2014 Gross profit $ Expenses: Total expenses Other expense: h What is a major advantare nf the multile-sten income statement over the single-sten income statement