Question

Last year, Sam’s Swimming Pool Cleaning had a gross profit of $105,355 and net income of $72,010. Calculate Sam’s operating expenses for last year. A. $3,335 b. $33,345 c. $17,734 d. $177,345.

Answer 1

Based on the gross profit recorded and the net income, we can calculate that the operating expenses are b. $33,345

The net income is calculated as:

= Gross profit - expenses

The expenses can therefore be calculated as:

Expenses = Gross profit - Net income

Solving gives:

= 105,355 - 72,010

= $33,345

In conclusion, the operating expenses were $33,345.

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