Morrisey & Brown, Ltd, of Sydney is a merch increasing in popularity among Australian consumers. The company's income statements for the three most recent months follow: andising company that is the sole distributor of a product that is Morrisay & Brown, Ltd. Income Statements For the Three Months Ended September 30 July August September Sales in units Sales revenue Cost of goods sold Gross margin Selling and administrative expenses: 1,600 A$ 280.000 110.400 3,300 A$ 577,500 227.700 349.800 4,950 A$ 866,250 341,550 Advertising expense Shipping expense Salaries and commissions Insurance expense Depreciation expense 69,300 63,400 96,600162,900 8,600 41,800 257,600 346,000 A$ 3,800 69.300 41,300 69,300 84,850 227,250 8,600 41,800 431,800 A$ 92,900 8,600 41,800 Total selling and administrative expenses Net operating income (loss) A$ (88,000)