During 2012, Just-the-One Jewelry had sales revenues of $1,500,000. This retailer also had expenses that totaled $800,000. What is the firm's profit or loss amount?

Question

Quizplus · Accepted Answer

Profit or loss can be calculated by subtracting expenses from sales revenues. Therefore, the calculation for Just-the-One Jewelry's profit or loss would be:
$1,500,000 (sales revenues) - $800,000 (expenses) = $700,000 (profit)

During 2012, Just-The-One Jewelry Had Sales Revenues of $1,500,000