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Based on your income statement, logically interpret the businesss performance against the provided benchmarks. Did the company do as well as expected? Explain what happened.
Based on your income statement, logically interpret the businesss performance against the provided benchmarks. Did the company do as well as expected? Explain what happened.
Revenue: | ||
Collars 644*20 | $ 12,880 | |
Leashes 540*20 | 10,800 | |
Harnesses 700*20 | 14,000 | |
Total Revenue: 12,880+10,800+14,000 | $ 37,680 | |
Cost of goods sold | 172,258 | |
Gross profit | $ 209,938 | |
Expenses: | ||
General and administrative salaries | $ 2,450 | |
Depreciation | 165 | |
Rent | 750 | |
Utilities and insurance | 600 | |
Scissors, thread, and cording | $ 1,200.00 | |
Loan | 550 | |
Total Expenses | $ 5,715.00 | |
Net Income/Loss 209938 - 5715 | $ 204,223.00 |
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