On March 31, 2018, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture wholesaler, are as follows: Accounts Receivable $163,800 Accumulated Depreciation-Building 740,900 Administrative Expenses 526,350 Building 2,507,600 Cash 186,150 Common Stock 304,450 Cost of Goods Sold 3,852,200 Dividends 184,450 Interest Expense 10,200 Inventory 1,022,600 Notes Rayable 238,600 Office Supplies 19,050 Retained Earnings 1,267,250 Salaries Payable 7,700 Instructions Interest Expense 10,200 Inventory 1,022,600 Notes Payable 238,600 Office Supplies 19,050 Retained Earnings 1,267,250 Salaries Payable 7,700 Sales 6,264,600 Selling Expenses Store Supplies 735,850 86,750 A. Prepare a multiple-step income statement for the year ended March 31, 2018. 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. In the Other income and expenses section only, enter amounts that represent other experises as negative numbers using a minus sign. B. What is a major advantage of the multiple-step income statement over the single-step income statement