Instructions On March 31, 2049, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: $160,250 742,500 Accounts Recewable Accumulated Depreciation-Building Administrative Expenses Building Cash 515,600 2,552 350 183,850 295,050 Common Stock Cost of Goods Sold 3.903,350 Dividends 185,250 Interest Expense 10.200 1.000.000 ventory Instructions 254,900 Notes Payable Office Supplies Retained Earnings Salaries Payable 20,350 1,315,950 8,050 6,618,600 Sales Selling Expenses 706,050 Store Supplies 86,700 A Prepare a multiple-step income statement for the local year ended March 31, 2049. Be sure to complete the statement esting for to the information given in the exercise and to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for entries. A colon () will automatically appear if it is required for those bares which you must enterotracted or negative numbers use minus sign B What is a major advantage of the multi-step income statement over the single-stop incorrectament Labels Expenses For the Year Ended March 31, 2049 March 31, 2049 Other revenue and expense Amount Descriptions Gross profit March 31, 2019. Be sure to complete the statement headin uint Descriptions provided for the exact wording of the answer se boxes in which you must enter subtracted or negative num Not Income Netloss Operating income per the single-ste income statement? Total assets TA wgle-step income sian Total expenses Total stockholders' equity Royal Furnishings Company Income Statement (Label) 1 3 Label) 11 01 B. What is a major advantage of the multiple-step income statement over the single-step income statement? The multiple-step income statement clearly presents the value of total expenses The multiple-step income statement shows the relationship of gross profit to sales The multiple-step Income statement clearly presents the value of total revenues The multiple-step income statement is less complex to prepare 9