Income Statement:

Use the following revenue and cost information for the income statement. Note that the revenue you use will depend on the pricing level options you chose in Milestone Two. Also, assume that after accounting for weekends and other holidays, there were 20 business days in the first month of operation. For example, if you chose a sales price of $20 per collar, the actual number of collars sold in the month was 33 per day or 33 x 20 = 660 per month.

Milestone two pricing level

	COLLARS		LEASHES		HARNESSES
Sales Price per Unit	$ 20.00		$ 22.00		$ 25.00
Variable Cost per Unit	9.10		12.10		14.60
Contribution Margin	$ 10.90		$ 9.90		$ 10.40

The other costs incurred by the business include:

• General and administrative salaries
  • Receptionist: $1,950
  • Owner salary: $500
• Depreciation: $165
• Rent: $750
• Utilities and insurance: $600
• Scissors, thread, and cording: $1,200
• Loan repayment: $550

units sold: Collars- 33 per day Leashes 28 per day Harnesses 25 per day

Need to complete the below:

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Revenue:
Collars	$
Leashes
Harnesses
Total Revenue:		$ -
Cost of goods sold		-
Gross profit		$ -