Question

The table shows incomes and expenses for a small music store in one week. Write an integer to represent each value. Then find the net profit for a week
Income expense

instruments $800 displays $110

sheet music $100 salaries $400

lessons $150 ?

Answer 1

Net profit (revenue minus COGS) is gross profit minus operational costs and any other expenses such as borrowing taxes, equity, etc.

• While it may seem harder, net profit is calculated on our behalf and provided as a net income in the financial statements.
• It helps the investors evaluate whether managers generate sufficient profit from their sales and whether operating costs and overhead costs are being limited.
• This is one of the main indicators of the financial health of the company overall.

Given:

Please find the given table.

Using formula:

$\to \bold{\text{net profit = total Income - total expenses}}$

Solution:

Calculating the total income: $\bold{=\ 800+\ 100+\ 150=\ 1050}$

Calculating the total expense: $\bold{=\ 110+\ 400=\ 510}$

Calculating the net Profit:

$\bold{\text{ = total Income - total expenses}}$

$=\bold{\ 1050-\ 510}\\\\=\bold{\ 540}$

Therefore the final answer is "$540".

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