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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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