The Sample Cafe nearly broke even in the first month of business. Below is a simplified income statement for January along with some notes regarding specific transactions. Sample Cafe Income Statement Summary Month Ended January 31, 20xx

Item	value	Note
Revenue	$ 28,900	includes $900 for a special event that has been invoiced, but not yet paid
Cost of goods sold	$ 3,500	Includes $2,100 of cups used from inventory plus $1,400 of coffee beans. An additional $400 of large cups were purchased and delivered during the week but not yet paid for.
total expenses	$26,000	Includes equipment depreciation of $200
Net income	$ -600	N/a

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