EX $5-32$ Multiple$-$step income statement

Va$.$ Net income:

$$1,720,000$

On

March $31$

$31,20$Y$9,$

the

Company, a furniture store,

a$.$ Prepare a multiple$-$step income statement for the fiscal year ended March $31,20$ Y$9.$

b$.$

Compare the major advantages and disadvantages of the multiple$-$ and single$-$step

forms of income statements.