Multiple-Step Income Statement On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows Accounts Receivable Accumulated Depreciation-Building Administrative Expenses Building Cash Common Stock Cost of Goods Sold Dividends Interest Expense $170,000 Inventory $966,100 777,250 Notes Payable 283,950 528,450 Office Supplies 19,050 2,507,150 Retained Earnings 1,243,600 180,850 Salaries Payable 7,700 306,950 Sales 6,137,450 3,865,350 Selling Expenses 680,050 174,650 Store Supplies 10,400 a. Prepare a multiple-step income statement for the fiscal year ended March 31, 2019. Royal Furnishings Company Income Statement For the Year Ended March 31, 20Y9 Gross profit Expenses: Total expenses Other expense: 100 OC 87,500