On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, are as follows: Accumulated Depreciation-Building $752,300 Administrative Expenses 540,650 Building 2,553,550 Cash 167,750 Cost of Merchandise Sold 3,964,300 Interest Expense 10,200 Kathy Melman, Capital 1,515,650 Kathy Melman, Drawing 169,200 Merchandise Inventory 981,650 Notes Payable 255,650 Office Supplies 20,150 Salaries Payable 8,200 Sales 6,235,450 Selling Expenses 736,600 Store Supplies 91,300 Required: a. Prepare a multiple-step income statement for the year ended March 31, 2019. 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 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