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 $740,900 Administrative Expenses 526,350 Building 2,507,600 Cash 180,350 Common Stock 304,450 Cost of Merchandise Sold 3,852,200 Dividends 169,650 Interest Expense 10,200 Merchandise Inventory 1,022,600 Notes Payable 238,600 Office Supplies 19,050 Retained Earnings 1,267,250 Salaries Payable 7,700 Sales 6,264,600 Selling Expenses 735,850 Store Supplies 86,750 Required: A. Prepare a multiple-step income statement for the year ended October 31, 2016. Be sure to complete the statement heading. Refer to the information given in the exercise and 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.