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E4-18 Multiple-step income statement On March 31, 20Y5, the balances of the accounts appearing in the ledger of Vibe Tribe Inc. are as follows: Administrative Expenses $ 475,000 Inventory $ 400,000 Accumulated Dep.-Building 2,000,000 Notes Payable POTE 450,000 Building 9,500,000 Office Supplies 25,000 Common Stock 500,000 Retained Earnings 6,182,500 Cash 1,485,000 Sales 8,925,000 Cost of Goods Sold 5,175,000 Selling Expenses 825,000 Dividends 100,000 Store Supplies 75,000 Interest Expense 22,500 a. Prepare a multiple-step income statement for the year ended March 31, 2075. b. Compare the major advantages and disadvantages of the multiple-step and single-step forms of income statements