Based on the information above, use financial tool - Financial Statements: Horizontal Analysis and Vertical Analysis to calculate and analyze the ORA Income Statement. After you finish, provide the conclusion (bad or good) based on the calculation and analysis result.

*Note: remember in your conclusion, you should identifies what is going on right now in the situation or about how current things came to be, NOT possible courses of future action

EXHIBIT 5: ORA INCOME STATEMENT, 2016-2018 (IN CA\$) \begin{tabular}{|c|c|c|c|} \hline Revenue & 2018 & 2017 & 2016 \\ \hline Total revenue & 219,886 & 130,241 & 57,094 \\ \hline Total sales & 74,886 & 33,241 & 22,094 \\ \hline ORA & 27,112 & 24,362 & 22,094 \\ \hline ORA PRO & 47,774 & 8,879 & 0 \\ \hline Grant revenue & 145,000 & 97,000 & 35,000 \\ \hline \multicolumn{4}{|l|}{ Cost of sales } \\ \hline Opening inventory & 12,006 & 11,865 & 11,618 \\ \hline Purchases & 14,249 & 12,276 & 11,915 \\ \hline \multirow[t]{2}{*}{ Freight } & 11,989 & 11,243 & 9,860 \\ \hline & 38,244 & 35,384 & 33,393 \\ \hline Closing inventory & (12,983) & (12,006) & (11,865) \\ \hline Total cost of sales & 25,261 & 23,378 & 21,528 \\ \hline Gross profit & 194,625 & 106,863 & 35,566 \\ \hline \multicolumn{4}{|l|}{ Expenses } \\ \hline Credit card charges & 1,997 & 2,776 & 1,288 \\ \hline Salaries, wages, and benefits & 107,651 & 52,112 & 14,680 \\ \hline Insurance, licences, and rentals & 3,327 & 3,495 & 2,178 \\ \hline Amortization & 1,543 & 1,238 & 1,889 \\ \hline Interest & 2,678 & 1,619 & 2,174 \\ \hline Supplies, office, utilities, and other & 9,161 & 4,622 & 3,291 \\ \hline Advertising & 17,608 & 10,307 & 7,187 \\ \hline Rent and repairs & 33,177 & 30,623 & 22,684 \\ \hline Total expenses & 177,142 & 106,792 & 55,371 \\ \hline Income from operations & 17,483 & 71 & (19,805) \\ \hline Loss carry forward & (32,346) & (32,417) & (12,612) \\ \hline Net income (loss) & (14,863) & (32,346) & (24,543) \\ \hline \end{tabular}