Baked Caramel-Apple French Toast

1 (1 pound) loaf French bread, sliced

6 eggs

1 ½ cups skim milk

⅓ cup white sugar

1 tablespoon vanilla extract

6 apple - peeled, cored and sliced

1 ½ teaspoons ground cinnamon

½ teaspoon ground nutmeg

2 tablespoons white sugar

½ cup white sugar

¼ cup all-purpose flour

½ cup margarine, melted

½ cup brown sugar

½ cup skim milk

2 teaspoons vanilla extract

Cut bread into 1 1/2 inch thick slices and place in a lightly greased 9x13 inch baking pan. In a large bowl, beat eggs with 1 1/2 cup skim milk, 1/3 cup white sugar, and 1 tablespoon vanilla. Pour egg mixture over bread slices.

Arrange apple slices on top of bread. Sprinkle cinnamon, nutmeg, and 2 tablespoons white sugar over apples. Cover, and refrigerate overnight.

In the morning: Preheat oven to 350 degrees F (175 degrees C).

Bake toast in preheated oven until golden brown, about 1 hour. Meanwhile, combine 1/2 cup white sugar, flour, and margarine. Stir in brown sugar, 1/2 cup skim milk, and 2 teaspoons vanilla in a small saucepan. Cook until thick. Serve French toast hot with warm sauce.