Chapter 5 Graded Homework (App Book Show Me How Exhibe -Step Income Statement On March 31, 2005, the balance of the accounts appearing in the edge of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $170,000 Inventory $966,650 Accumulated Depreciation-Building 737,650 Notes Payable 278,500 ve Expens 532.450 Office Supplies 19,550 Balling 2,590,450 Retained Earnings 1,240,450 Cash 176,550 Salaries Payable 8,000 Common Stock 313,150 Sales 6,132,800 Dato Sold 3,830,400 Selling Expenses 692.400 Dividendo 181,150 Store Supplies 92,850 Interest Expense 9,550 Prepare a multiple-step income statement for the fiscal year ended March 31, 2019 Royal Furnishings Company Income Statement For the Year Ended March 31, 2019 Gross profit Expenses 00 Total expen Other expense gd 2. What is a mejor advantage of the multiple-step income statement over the single-step income statement