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.
Answer
A
$3,335
B
$33,345
C
$17,734
D
$177,345
Explanation
Operating expenses are found by subtracting net income from gross profit: $105,355 − $72,010 = $33,345. Therefore, Sam’s operating expenses were $33,345, choice b.
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