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Ahmed quit his job as a aircraft mechanic to open his own small plane repair business. The job he left paid him $4000 a month.
Ahmed quit his job as a aircraft mechanic to open his own small plane repair business. The job he left paid him $4000 a month. He bought a tool set of small hand tools worth $20,000 with money he had saved. He also took a loan out to buy some larger equipment, and now owes the bank a loan payment of $5,000 every month. He also leases a space at the local small plane airport for $1,000 a month. He buys parts only as needed, and this month the parts cost him $2,000. This month Ahmed repaired 10 aircraft at $1500 each. What are Ahmed's accounting profits? O $7,000 O $9,000 O $13,000 O $10,000
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