On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, are as follows: Merchandise Inventory Accumulated Depreciation-Building Administrative Expenses Notes Payable Building Office Supplies Cash Salaries Payable $751,300 558,400 2,426,200 167,300 3,679,650 9,900 1,649,700 168,600 $965,450 257,450 19,700 7,700 6,560,150 702,550 91,050 Sales Cost of Merchandise Sold Interest Expense Selling Expenses Kathy Melman, Capital Store Supplies Kathy Melman, Drawing a. Prepare a multiple-step income statement for the year ended March 31, 2019. Racine Furnishings Company Income Statement For the Year Ended March 31, 2019 Gross profit Expenses Total expenses