a. This is a personal essay and there are no examples provided. Use this as an opportunity to about what you learned (eventually) that resulted in all years of a positive Net Income.

Please use this income statement and can you provide summary.

Income Statement History 2020 Summer. BUSG 2300 - Poudel, Rishi - Poudel, Rishi Inc - Period 2026 2026 2025 2024 2023 2022 2021 2020 2019 2018 Sales Revenue $7,278,960 $7,242,560 $7,373,600 $7,352,800 $7,600,320 $8,374,340 $8,555,625 $8,503,235 $8, 190,000 Less: Cost of Goods Sold $3,256,532 $3,245,605 $3,315,049 $3,292,978 $3,368,717 $3,829,681 $4,025,015 $4, 134, 165 $4, 158,099 GROSS MARGIN $4,022,428 $3,996,955 $4,058,551 $4,059,822 $4,231,603 $4,544,659 $4,530,610 $4,369,070 $4,031,901 Selling & Distribution Expenses Salaries $120,000 $120,000 $120,000 $120,000 $120,000 $150,000 $150,000 $150,000 $150,000 Brand Advertising $250,000 $250,000 $250,000 $250,000 $250,000 $250,000 $250,000 $250,000 $250,000 Product Advertising $750,000 $750,000 $750,000 $750,000 $750,000 $750,000 $750,000 $750,000 $750,000 Product PR $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 Distribution Channel Support $83,448 $86,061 $92,811 $94,646 $122,212 $138,906 $141,671 $142,805 $142,805 Finished Goods Warehousing $67, 100 $64.475 $61,025 $52,950 $26,725 $8 550 $8,900 $6,375 $1,875 Product Development Projects Sales Of Obsolete Stock (Income) (SD) (SO) ($0) ($0) (SD) Cost Of Obsolete Goods Sold $0 SO ($0) $0 SO $0 $1,770,548 $1,770,536 $1,773,836 $1,767,596 $1,768,937 $1,797,456 $1,800,571 $1,799, 180 $1,794,680 Production Management Expenses Unallocated Factory Overhead $0 $O $0 $0 SO $0 $0 $0 SO $0 Administration Expenses Salaries $90,000 $90,000 $90,000 $120,000 $120,000 $120,000 $120,000 $120,000 $120,000 Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 50 SO $0 Miscellaneous Expense SO $90,000 $90,000 $90,000 $120,000 $120,000 $120,000 $120,000 $120,000 $120,000 Financial Expenses Interest on Short Term Debt $0 $0 $0 $0 $0 SO $0 $0 $0 Interest on Long Term Debt $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 $50,000 TOTAL OTHER EXPENSES $1,910,548 $1,910,536 $1,913,836 $1,937,596 $1,938,937 $1,967,456 $1,970,571 $1,969,180 $1,964,680 Other Income Interest on Cash in Bank $325,022 $289,305 $253,743 $219,361 $188,240 $151,898 $109,076 $67,152 $28,326 Miscellaneous Cash Windfall $0 $0 $0 $0 SO $0 $0 $0 TOTAL OTHER INCOME $325,022 $289,305 $253,743 $219,361 $188,240 $151,898 $109,076 $67,152 $28,326 Profit Before Taxation $2,436,902 $2,375,725 $2,398,457 $2,341,587 $2,480,906 $2,729,101 $2,669,115 $2,467,043 $2,095,547 Less: Income Tax $731,071 $712,717 $719,537 $702,476 $744,272 $818,730 $800,734 $740,113 $628,664 $0 $0 $0 SO $0 $0 Plus: Tax Credit Profit After Taxation $1,705,832 $1,663,007 $1,678,920 $1,639,111 $1,736,634 $1,910,371 $1,868,380 $1,726,930 $1,466,883 NET INCOME $1,705,832 $1,663,007 $1,678,920 $1,639, 111 $1,736,634 $1,910,371 $1,868,380 $1,726,930 $1,466,883