On October 31, 2016, the balances of the accounts appearing in the ledger of Prestige Furnishings Company, a furniture wholesaler, are as follows:

Accumulated Depreciation-Building	$758,050
Administrative Expenses	522,950
Building	2,558,950
Cash	182,150
Cost of Merchandise Sold	3,721,150
Interest Expense	10,150
Jan Brown, Capital	1,611,550
Jan Brown, Drawing	170,800
Merchandise Inventory	938,100
Notes Payable	255,400
Office Supplies	19,050
Salaries Payable	8,000
Sales	6,101,750
Selling Expenses	700,950
Store Supplies	92,800

	Required:
a.	Prepare a multiple-step income statement for the year ended October 31, 2016. Be sure to complete the heading of the statement. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon (:) will automatically appear if it is required. In the Other income and expenses section only, enter amounts that represent other expenses as negative numbers using a minus sign.
b.	What is a major advantage of the multiple-step income statement over the single-step income statement?