$($a$)$ Prepare a multiple$-$step income statement for the vear ended October $31,2015$ using the

information and data provided below.

$($b$)$ Compare the major advantages and disadvantages of the multiple$-$step and single$-$stepforms of

incom$$ st$\backslash$bar $($a$)$ tem$$nts$.$

Net Income $=$$$500,000$ Please complete a multiple step income statement

On October $31,20$Y$5,$ the balances of the accounts appearing in the ledger of Quality Interiors

Company, a furniture wholesaler, are as follows: