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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. 1 No. 2 No. 3 Combined Sales (by grade) No. 1: 247,500 lbs. No. 2: 247,500 lbs. No. 3: 792,000 lbs. Total sales $1.80/lb $445,500 $1.40/lb $0.25/Ib $346,500 $ 198,000 $990,000 Costs Tree pruning and care $0.30/1b Picking, sorting, and grading $0.20/lb Delivery 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 Total costs Net income (loss) $306,750 $207,750 $(235,600 $

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