Income Statement

Revenue:

Collars $ 322,560

Leashes 271,040

Harnesses 312,500

Total Revenue: $ 906,100

Cost of goods sold 28,258

Gross profit $ 877,842

Expenses:

General and administrative salaries $ 1,950

Office supplies 200

Other business equipment 150

Total Expenses $ 2,300.00

Net Income/Loss $ 875,542.00

[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.]