Instructions On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building Administrative Expenses Building Cash Cost of Merchandise Sold Interest Expense Kathy Melman, Capital Kathy Melman, Drawing Merchandise Inventory A---D-LI $ 300,000 216,000 1,000,000 70,000 1,520,000 4,000 634,800 70,000 $ 392,000 400.000 320IE/

On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Fumishings Company, a furniture wholesaler, are as follows: a. Prepare a multiple-step income statement for the year ended March 31, 2019. Be sure to complete the heading of the statement. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon ( ) will automatically appear if it is required. b. What is a major advantage of the multiple-step income statement over the single-step income statement? of Racine Fumishings Company, a furniture wh structions Lahole and Amnunt nemerintione of Racine