In 1. 20X3 Cool Lope, Inc. sold products to customers for $__________ that cost the company $__________ to produce.

2. The title of the largest expense account is ___________ reporting $____________ which is typically the largest expense account for a company within the (retail / service) industry.

3. Was Cool Lope, Inc. profitable? (Yes / No) How much profit was reported? $__________ .

****Please provide me with the breakdown/calculation.

\begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Cool Lope, Inc. - Tropical Smoothies and Shaved Ice } \\ \hline \multirow{2}{*}{\multicolumn{4}{|c|}{CoolLope,Inc.ConsolidatedStatementsofEarnings}} \\ \hline & & & \\ \hline \multicolumn{4}{|c|}{ For the Years Ended December 31, 20X3, 20X2, 20X1 } \\ \hline & 203 & 202 & 20Xl \\ \hline Net sales & $21,560 & $16,400 & $15,180 \\ \hline Cost of goods sold & $12.946 & $10.297 & $9.670 \\ \hline Gross profit & $8,614 & $6,103 & $5,510 \\ \hline Sellingandadministrativeexpenses & $4,572 & $3,349 & $3,276 \\ \hline Advertising & $1,425 & $1,079 & $954 \\ \hline Depreciation and amortization & $250 & $250 & $250 \\ \hline Operating profit & $2,218 & $1,377 & $1,030 \\ \hline Interest expense & $130 & $130 & $130 \\ \hline Earnings before income taxes & $2,088 & $1,247 & $900 \\ \hline Provision for income taxes & $517 & $332 & $255 \\ \hline Net eamings & $1,571 & $915 & $645 \\ \hline \end{tabular}