Problem 8-8 Performing a Comprehensive CVP Analysis (LO2 - CC5, 9) 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 Income Statement March ril 5,500 May 6,750 June Sales in units Sales revenue Less: Cost of goods sold 8,000 $710,000 $640,000 $769,000 $850,000 436,000 6,000 375,000 347,000 384,000 $335,000 $293,000 $385,000 $414,000 Gross margin Less: Operating Expenses Shipping expense Advertising expense Salaries and commissions Insurance expense Amortization expense 63,500 85,000 163,800 14,000 47,000 54,000 $67,000 66,000 85,000 138,000 14,000 47,000 85,000 166,500 14,000 47,000 85,000 175,500 14,000 47,000 Total operating expenses $373,300 $338,000 $379,500 $387,500 Net income $ (38,300) $(45,000) $ 5,500 $ 26,500