Below is a list of accounts and balances for Beach Wear Inc. for the year ending July 31,2020 . All balances are in thousarids of dollars. Beach Wear Inc. follows APSE. Assume a tax rate of 15%6 De not enter dollar sigus of commas in the ionat boxes. Bound all answers to the nearast whote number Use the megatlee sion lor losses and rows marks with. Prepare an income statement by function for the year ended July 31,2020. Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Depreciation Expense-Retail Equipment Advertising Expense Rent Expense-Retail Sales Salaries Expense Total Selling Expenses Administrative Expenses Depreciation Expense-Office Equipment Rent Expense-Office Otfice Salaries Expense Total Administrative Expenses Total Operating Expenses Totat Operating Expenses 4rcome (toss) from Operations Other Income and Expenses Gain on Sales of Assets "interest Expense ncome (toss) from before income Tax Benefit (Expense) incorne Tax Benefit (Expense) -Incorne (Loss) from Continuing Operations Discontinued Operations Gain on Sales of Discontinued Operations (net of tax) -Loss from Operating Discontinued Operabions (net of tax "Net Incorne (toss)