On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furnture store, are as follows: a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20r? b. What is a major advantage or the mumpit step income statament over the singlt step income stutement? Laphlnina a. Prepare a multiple-step income statement for the fiscal year ended March 31, 20Yg. Income Statement instructions b. What is a major advantage of the multiple-step income statement over the single-step income statement? The multiple-step income statement is less complex to prepare. The multiple-step income statement shows the relationship of gross profit to sales. The multiple-step income statement clearly presents the value of total revenues The multiple-step income statement cleariy presents the value of total expenses