On March 31, 20Y5, the balances of the accounts appearing in the ledger of Vibe Tribe Inc. are as follows:

Administrative Expenses		$ 295,400		Inventory		$ 307,400
Accumulated Dep. - Building		242,540		Notes Payable		69,600
Building		1,212,700		Office Supplies		24,900
Common Stock		150,000		Retained Earnings		1,196,200
Cash		115,000		Sales		3,012,500
Cost of Goods Sold		1,656,400		Selling Expenses		484,900
Dividends		58,900		Store Supplies		18,500
Interest Expense		17,800

a. Prepare a multiple-step income statement for the year ended March 31, 20Y5. 

Enter account decreases and cash outflows as negative amounts.

b. Disadvantages of a single-step form of income statement includes all of the following except:

Gross profit is not reported. Income from operations is not reported. Total revenues and total expenses are not indicated. All of the above are disadvantages of a single-step income statement.