Multiple-Step Income Statement On March 31, 20Y5, the balances of the accounts appearing in the ledger of Lange Daugh Administrative Expenses Accumulated Dep. - Building 4,000,000 Notes Payable Building Common Stock Cash Cost of Goods Sold Dividends Interest Expense a. Prepare a multiple-step income statement for the year ended March 31, 20Y5 800,000 900,000 50,000 1,000,000 Retained Earnings 12,365,000 17,850,000 1,650,000 150,000 $950,000 Inventory 19,000,000 Office Supplies 2,970,000 Sales 10,350,000 Selling Expenses 200,000 Store Supplies 45,000 Lange Daughters Inc. Income Statement For the Year Ended March 31, 20YS Operating expenses Total operating expenses Other expense b. Disadvantages of a single-step form of income statement includes all of the following except