Assess the income statement below, based on a business that has been open for 1 month.

Revenue:
Collars	$ 12,880
Leashes	10,800
Harnesses	14,000
Total Revenue:		$ 37,680
Cost of goods sold		(28,258)
Gross profit		$ 9,422
Expenses:
General and administrative salaries	$ (2,450)
Office supplies	(200)
Other business equipment	-150
Total Expenses		$ 2,800.00
Net Income/Loss		$ 34,880.00