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Question

anonymous · Answer

Ryan Hayes bought a stereo for $75. He spent $24.75 repairing the cabinet. He sold the stereo for $150. Find the net profit

anonymous · Answer

Well the net profit is $$Profit = Income - Expenses$$

anonymous · Answer

I got $99.75. Is it correct?

anonymous · Answer

No

anonymous · Answer

Ok I am confused. ._.

anonymous · Answer

He bought the stereo - here he's giving someone else money, so that's an expense ($75)
He had it repaired - here he's also giving out money, so it's an expense too ($24.75)
He sold it - here he's receiving money, so it's an income ( $150)

Then just plug them in to the formula:$$Profit = (150) - (75 + 24.75)$$$$Profit = 50.25$$

anonymous · Answer

Oh ok. Thank you for your help.

anonymous · Answer

No problem. You should click the "Good Answer" button when someone helps you out :)