This exercise requires you to prepare a multi-step income statement. You will provide all the numbers yourself. Each amount must be in thousands ($1,000, $5,000, $8,000, etc.). The financial statement must have the following items included: 1. a proper heading (you pick the name of the company and fiscal period) 2. gross profit (and anything that is needed to arrive at gross profit) 3. at least 4 selling expenses AND at least 4 administrative expenses 4. at least 2 other revenue and expenses 5. all required subheadings and subtotals appropriately presented/calculated 6. all necessary commas and dollar signs