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Revenue Coffee sales Dessert sales Food sales Bottled Drinks Bean Sales Total Revenue Income Statement...

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Revenue Coffee sales Dessert sales Food sales Bottled Drinks Bean Sales Total Revenue Income Statement For the month ended June 30, 2021 $ 30,000 6,000 12,000 1,800 4,700 54,500 Cost of Goods Sold 21,250 Gross Profit 33,250 Operating Expense Advertising Wages & Salaries License fees Credit Card charges Insurance Rent Telephone & Internet Security Bad debts Total Expenses Operating Profit (EBIT) Interest and bank charges Profit before tax (EBT) Taxes Net Profit (Loss) 700 3,000 400 320 500 4,000 150 600 20,000 29,670 3,580 4,600 (1,020) $(1,020) 1. Discuss how gross profit, operating profit (EBIT), profit before tax and net income was calculated and if these numbers are looking good. 2. Include a comment to indicate what the likely reasons are for the business to be reporting a loss for the month

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