Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Gloria owns a small beauty shop, where she works full-time. Her total revenue last year was $200,000, and her rent was $5,000 per month. She
Gloria owns a small beauty shop, where she works full-time. Her total revenue last year was $200,000, and her rent was $5,000 per month. She pays her one employee $3,000 per month, and the cost of haircare products averages $1,000 per month. Gloria could earn $55,000 per year as an instructor in the nearby beauty school. Her accounting profit last year was _____.
Group of answer choices
A. $37,000
B. $66,000
C. $55,000
D. $18,000
E. $92,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started