Master Siopao earned 500,000 from selling their goods during the month of January. These goods sold were first purchase at an amount of 190,000. Salaries paid to employees is x+10,400 utilities paid is x+5,200, and rent of the selling area is 2(x+7,500)-5,000. If x=3,570, how much is the net income of the store?
Answers & Comments
To compute for the net income of the store, we need to subtract the expenses from the total sales. Let's first compute for the expenses:
Salaries paid to employees = x + 10,400 = 3,570 + 10,400 = 13,970
Utilities paid = x + 5,200 = 3,570 + 5,200 = 8,770
Rent of the selling area = 2(x+7,500)-5,000 = 2(3,570+7,500)-5,000 = 20,640
Total expenses = Salaries paid + Utilities paid + Rent of selling area
Total expenses = 13,970 + 8,770 + 20,640
Total expenses = 43,380
Now, we can compute for the net income:
Net income = Total sales - Total expenses
Net income = 500,000 - 190,000 - 43,380
Net income = 266,620
Therefore, the net income of the store is 266,620.