On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, are as follows:

Accumulated DepreciationBuilding	$746,050		Merchandise Inventory	$948,950
Administrative Expenses	548,850		Notes Payable	246,150
Building	2,386,350		Office Supplies	19,950
Cash	168,100		Salaries Payable	7,600
Cost of Merchandise Sold	3,853,600		Sales	6,114,700
Interest Expense	9,600		Selling Expenses	729,650
Kathy Melman, Capital	1,562,600		Store Supplies	92,200
Kathy Melman, Drawing	168,450

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
Sales		$
Cost of merchandise sold
Gross profit		$
Expenses:
Selling expenses	$
Administrative expenses
Total expenses
Income from operations		$
Other expense:
Interest expense
Net income		$