I pinched this from somewhere ages ago but that's what the Internet is for isn't it?
You've not provided the average price of all selections but I'm going to assume it's around $100 (ave$all).
Let's work out the loser's strike rate
loserSR = 1 - (winners / selections)
loserSR = 1 - (1,048 / 86,078)
loserSR = 1 - 0.01217
loserSR = 0.98783
So how much would you have made for $1 on each selection?
netProfitEach = ((loserSR x Betfair Commission) / ave$all) - loserSR
netProfitEach = ((0.98783 x 0.95) / $100) - 0.01217
netProfitEach = (0.93843 / $100) - 0.01217
netProfitEach = 0.0093843 - 0.01217
netProfitEach = -$0.0027857 
So on every selection you're losing just over quarter of a cent.
Therefore your total profit would have been
Total Net Profit = selections x netProfitEach
Total Net Profit = 86,078 x -$0.0027857
Total Net Profit = -$239.78
Certainly something to work with. 
but ...
... if you've used tote prices your profit will be lower.
... if my guess average price is wrong thing could be better or worse.
... your average winner's divi is $49.22 