Income Statement

DescriptionAmount $($$$)$RevenuesTotal Revenues$500,000$ExpensesCost of Goods Sold $($COGS$)200,000$Depreciation$50,000$Commission Fees$30,000$Shipping Costs$20,000$Rent$40,000$Marketing$60,000$Total Expenses$400,000$Net Income$100,000$

$1.$ Using the above income statement, answer the following questions: $($Note: IF answering this question, please avoid using ChatGPT or any other AI as the structure, formula, and also answer is very likely to be incorrect. Please also show ALL working and not just the final answer.$)$

$($i$)$ Calculate Contribution Ratio

$($ii$)$ Calculate Break$-$Even Point

$($iii$)$ What is the difference between cash flow and profit?

$($iv$)$ How is an income statement different from a balance sheet?