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 $165,250 Accumulated Depreciation-Building 758,050 Administrative Expenses 522,950 Building 2,558,950 Cash 184,200 Common Stock 308,650 Cost of Goods Sold 3,884,500 Dividends 184,250 Interest Expense 9,500 Inventory 1,008,800 Notes Payable 250,600 Office Supplies 20,200 Retained Earnings 1,349,550 Salaries Payable 7,750 Sales 6,243,700 Selling Expenses 733,950 Store Supplies 94,450

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 expenses 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?