please answer all of the questions!

Prepare a flexible budget performance report for the year.

Based on this flexible budget performance report, what is the primary cause of the loss in net income?

Did management do a good job in controlling expenses?

Based on your analysis and your flexible budget, were management's decisions regarding competitiveness sound or not?

GREEN PASTURES Static Budget Income Statement For the Year Ended December 31,2017 Actual Master Budget 60 21,900 Difference Number of mares Number of boarding days Sales Less: Variable expenses 52 19,000 $380,000 8 U 2,900 U $547,500 $167,500 U 104,390 58,838 4,984 10,178 178,390 201,610 109,500 65,700 5,475 12,045 192,720 354,780 5,110 F 6,862 F 491 F 1.867F 14.330 F 53,170U eec Veterinary fees Blacksmith fees Supplies Total variable expenses Contribution margin Less: Fixed expenses Depreciation Insurance Utilities Repairs and maintenance Labor Advertisement Entertainment 40,000 11 ,000 12,000 10,000 88,000 12,000 7,000 180,000 S 21.610 2.000 F 1,000F 7,000 F 4,000 U 2,000 U 4,000 F $170,780 $149,170 U 40,000 11,000 14,000 11.000 95,000 8,000 5,000 184,000 Total fixed expenses Net income