On March $31,20$Y$9,$ the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows:

A$.$ Prepare a multiple$-$step income statement for the fiscal year ended March $31,20$Y$9.$ Be sure to complete the statement heading. Refer 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 text entries. A colon $($:$)$ will automatically appear if it is required. For those boxes in which you must enter subtracted or negative numbers use the minus sign.

B$.$ What is a major advantage of the multiple$-$step income statement over the single$-$step income statement?