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Ryan Hayes bought a stereo for $75. He spent $24.75 repairing the cabinet. He sold the stereo for $150. Find the net profit
Well the net profit is \[Profit = Income - Expenses\]
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Ok I am confused. ._.
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:\[Profit = (150) - (75 + 24.75)\]\[Profit = 50.25\]
Oh ok. Thank you for your help.
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