Calculate the projected net income/(loss) for the first year. This should be in the form of an simple income statement including captions for revenue, cost of goods sold (do not round.), gross profit, operating expenses, and net income/(loss). All operating expenses must be listed individually. Do not round.

Account Name	Annual Amount
Office Supplies	$500
Factory Utilities	$2400
Sales Commissions	$40000
Factory Equipment Depreciation	$500
Factory Rent	$5000
Advertising	$12000
Factory Manager