Multiple-Step Income Statement On March 31, 2014, the balances of the accounts appearing in the ledger of Danns Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building $725,900 Merchandise Inventory $952,250 Administrative Expenses 549,600 Notes Payable 261,200 Building 2,493,100 Office Supplies 19,350 Cash 166,900 Salaries Payable 7,700 Cost of Merchandise Sold 3,982,200 Sales 6,170,750 Interest Expense 9,600 Selling Expenses 681,400 Kathy Melman, Capital 1,560,650 Store Supplies 86,650 Kathy Melman, Drawing 170,200 a. Prepare a multiple-step income statement for the year ended March 31, 20Y4. Danns Furnishings Company Income Statement For the Year Ended March 31, 20Y Gross profit Expenses: a. Prepare a multiple-step income statement for the year ended March 31, 20Y4. Danns Furnishings Company Income Statement For the Year Ended March 31, 2014 Gross profit Expenses: Total expenses Il Other expense: $ b. What is a major advantage of the multiple-step income statement over the single-step income statement