Draw per week = $1,300
Draw for four weeks = 1300 x 4 = $5,200
Four week sales amount = $186,900
6% commission on sales = 0.06 x 186,900 = $11,214
<span>Thus the amount equal to mike’s commission minus the
draw = 11,214 – 5,200 = $6,014</span>
14000+7x=35x (x being the number of books) solve for x and you have your answer. 14000=35x-7x=28x therefore x=14000/28=500 so he needs to sell 500 books before he breaks even.
Answer:
$56.7
Step-by-step explanation:
Given
Earning per share=E=$2.70
P/E Ratio=21
The formula for P/E ratio is :
P/E Ratio=Price/Earning
Where Price is the price of share in stock and earning the amount earned on one share.
Putting the values of Earning and P/E ratio in the formula
21=Price/2.70
21*2.70=Price
Price=$56.7
So the stock price is $56.7..