Hiker's Choice manufactures and sells 11 different models of hiking gear. Hiker's Choice is contemplating a 5% price cut across all 11 models. It expects the price cut to result in a 9% increase in the number of units sold for models X2401, X2403, X2405, and X2407. The other seven models (X2402, X2404, X2406, X2408, X2409, X2410, and X2411) are expected to see a 6% increase in sales volume. Assess the impact of the price cut on Hiker's Choice’s profits and prepare a profit and loss statement.

Model	Sales Price	Variable Costs	Sales Volume
X2401	$70	$35	2,500
X2402	$80	$40	3,000
X2403	$90	$45	3,500
X2404	$100	$50	4,000
X2405	$110	$55	4,500
X2406	$120	$60	5,000
X2407	$130	$65	5,500
X2408	$140	$70	6,000
X2409	$150	$75	6,500
X2410	$160	$80	7,000
X2411	$170	$85	7,500