Profit & loss statement Revenue 2017 Sales - White, wholemeal and sourdough products $65,000 Sales - Cakes, tarts and dessert products $40,000 Sales - Pies, pastries and savoury products $35.000 2016 $95.000 $65,000 $55,000 Total revenue Raw materials and consumables used cost of goods sald) Gross profit $140,000 $78,000 $62,000 $215,000 $95,000 $120,000 Bobby is a skilled baker who worked for several years in a patisserie in Paris. On returning to Melbourne in 2016, she decided to open her own business, Bobby's Bakery, to sell her unique pastries. Her ultimate goal is to franchise Bobby's Bakery to fund her early retirement. Expenses Casual wages Electricity Rent $12.000 $19,000 $15,000 $9,000 $23,000 $15,000 Total expenses $46,000 $47,000 Net profit $16,000 $73,000 Based on this profit and loss statement, which of the following is the best summary of Bobby's Bakery's business performance in 2017? O 2017 was neither a stronger nor poorer performance than 2016; the business sold less product but the net profit was a higher percentage of total revenue. O 2017 was a poorer performance than 2016; the business sold less product and the net profit was a lower percentage of total revenue. 2017 was a stronger performance than 2016; the business sold more product and the net profit was a higher percentage of total revenue