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Georgia Orchards produced a good crop of peaches this year. After preparing the following income...

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Georgia Orchards produced a good crop of peaches this year. After preparing the following income statement, the company believes it should have given its No. 3 peaches to charity and saved its efforts GEORGIA ORCHARDS Income Statement For Year Ended December 31, 2015 No. 2 No. 3 Combined Sales (by grade) No. 1: 247,500 lbs. $1.80/lb No. 2: 247,500 lbs. $1.40/lb No. 3: 792,000 lbs. $0.25/lb $445,500 $346,500 $ 198,000 $990,000 Total sales Costs @ $0.30/lb @ $0.20/lb Tree pruning and care Picking, sorting, and grading Delivery costs Total costs 74,250 49,500 15,000 138,750 74,250 49,500 15,000 138,750 237,600 158,400 37,600 433,600 386,100 257,400 67,600 711,100 278,900 Net income (loss) $306,750 $207,750 $(235,600) $

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