Final answer:
Matthew would use a profit and loss statement to determine his financial outcomes from breeding Cocker Spaniels, keeping in mind that while physical traits like spots do not necessarily influence price, breeding for a better pedigree can affect profits.
Step-by-step explanation:
Matthew would use a profit and loss schedule to determine the profit or loss from breeding Cocker Spaniels. A profit and loss schedule, often prepared as a statement, includes all revenues from sales and subtracts all expenses related to breeding, such as food, veterinary bills, and overhead costs.
If Matthew is focusing on selling pets with a better pedigree, he might find that although spots do not affect price, a stronger pedigree could command higher prices and potentially increase profit margins. However, this strategy should be carefully weighed against the breeders' limerick, suggesting that breeding only for specific traits, like spots, could be detrimental in the long term.
Therefore, Matthew's breeding goals should align with broader market desires and health considerations to ensure sustainable profitability.