Answer:
Loss of $24,105
Step-by-step explanation:
Chen owns a record shop. Last year he sold $97,215 worth of merchandise. His costs were $73,110. we are asked to determine how much profit did he make?
Profit = current sale - previous year sales
current sale = $73,110
previous year sales =$97,215
as previous year sales is greater than current sales, there is a loss
Loss = previous year sales - current sale
Loss =$97,215
-$73,110
=$24,105
