Cam Smith owns Cam's Pets, a small retail shop selling pet supplies. On December 31 comma 2016, the accounting records of Cam's Pets showed thefollowing:

Inventory on December 31, 2016

$

10,400

Inventory on January 1, 2016

15,100

Sales Revenue

58,000

Utilities Expense for the shop

3,700

Rent for the shop

4,900

Sales Commissions

2,950

Purchases of Merchandise Inventory

29,000

Requirements

1.What is an income statement for Cam's Pets for the year ended December31, 2016

2. Cam's Pets sold 5,450 units. Determine the unit cost of the merchandisesold, rounded to the nearest cent.