On March 31, 2049, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable $170,000 Inventory $933,150 Accumulated Depreciation-Building 764,100 Notes Payable 305,750 Administrative Expenses 543,400 Office Supplies 19,200 Building 2,465,550 Retained Earnings 1,233,600 Cash 174,950 Salaries Payable 7,750 Common Stock 305,000 Sales 6,646,300 Cost of Goods Sold 3,667,000 Selling Expenses 682,500 Dividends 178,050 Store Supplies 92,150 Interest Expense 10,300 a. Prepare a multiple-step income statement for the fiscal year ended March 31, 2049. Royal Furnishings Company Income Statement For the Year Ended March 31, 2019 $ $1 Gross profit Expenses: Total expenses Other expense: $ b. What is a major advantage of the multiple-step income statement over the single-step income statement