Piper's Custom Etched Glass & Gifts, LLC Income Statement March 13, 2020 Categorize each item, Income, COGS, Variable or Fixed cost, and taxes 1. Piper bought 1 case of glasses for $55.00 from Caire Restaurant Supply. 2. Piper drove by Delgado and picked up a check for the custom Engraved paperweights, she sold 10 paperweights for $20.00 each. 3. Her rent check is due today for $500.00 4. She filled up her gas tank for 52.00 she is seriously considering getting a hybrid 5. Piper set up an account with Huang Acrylic, she will be able to order acrylic supplies and pay within 30 days, she ordered $100 of small acrylic items to etch. 6. Piper then went to the post office to mail 4 acrylic boxes postage cost was $5.00 each 7. Piper got back to the office and checked the mail, she received payment for 3 commercial jobs $550, $350, $175 8. Piper's friend Casey has been helping her sell etched glassware. She gets a 10% commission, she sold $250.00 9. Piper's income tax rate is 15% Once categorized, add up each column. Determine the revenue, expenses, Net Profit Before Taxes, the Net Profit and Gross Profit and taxes. How does Piper do in the Month of March? What can Piper do to improve the business in April and the following months? HINT: cut and paste this assignment into a word document and upload C