Prompt #$3\mathrm{.}1[5$ points$]$Use the above information to prepare a multiple$-$step income statement for the year endedDecember $31,20$X$4.($HINT: Please sure to include all relevant subheadings$)$Prompt #$3\mathrm{.}2[3$ points$]$Compute Net Income as a Percentage of Gross Sales for $20$X$4.$Prompt #$3\mathrm{.}3[2$ points$]$Compute the Gross Profit Margin for $20$X$4.$