Prepare a multi$-$step income statement for the Appully Company $($a clothing retailer$)$ for the year ending December $31,2003,$ given the information below: Advertising expenditures $68,000$ Beginning inventory $256,000$ Depreciation $78,000$ Ending inventory $248,000$ Gross Sales $3,210,000$ Interest expense $64,000$ Lease payments $52,000$ Management salaries $240,000$ Materials purchases $2,425,000$ R&D expenditures $35,000$ Repairs and maintenance costs $22,000$ Returns and allowances $48,000$ Taxes $51,000$