Question

In the past 4 years, a sporting goods store had two yearly losses of $110,000 and $22,000 and two yearly profits of $140,000 and $80,000.
What was the net profit or loss over 4 years?

A.
–$132,000

B.
–$88,000

C.
$88,000

D.
$220,000

Answer 1

If you would like to know what was the net profit or loss over 4 years, you can calculate this using the following steps:

- $110,000 - $22,000 + $140,000 + $80,000 = - $132,000 + $220,000 = $88,000

The correct result would be C. $88,000.