On March 31, 2018, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture wholesaler, are as follows:

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Accounts Receivable	$170,000		Inventory	980,000
Accumulated DepreciationBuilding	$750,000		Notes Payable	250,000
Administrative Expenses	435,000		Office Supplies	20,000
Building	3,500,000		Retained Earnings	1,987,000
Cash	80,000		Salaries Payable	8,000
Common Stock	300,000		Sales	8,245,000
Cost of Goods Sold	5,500,000		Selling Expenses	575,000
Dividends	175,000		Store Supplies	90,000
Interest Expense	15,000

a. Prepare a multiple-step income statement for the year ended March 31, 2018.

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