The Central Valley Company is a manufacturing firm that produces and sells a single product. The company's revenues and expenses for the last four months are given below. Central Valley Company Comparative Monthly Income Statements Sales in units Sales revenue Less: Cost of goods sold March 7,000 $847,000 April 6,500 $786,500 May June 7,250 $877,250 7,500 $907,500 421,000 396,000 428,500 446,000 426,000 390,500 448,750 461,500 77,500 73,000 80,500 81,000 90,000 90,000 90,000 90,000 194,800 178,500 195,250 200,500 11,000 11,000 11,000 11,000 59,000 59,000 59,000 432,300 411,500 435,750 59,000 441,500 $(21,000) $13,000 $ 20,000 Gross margin Less: Operating expenses Shipping expense Advertising expense Salaries & commissions Insurance expense Depreciation expense Total operating expenses Net income $ (6,300)