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Sagot :
Answer:
Half of the question is missing, so I looked for similar ones and found the attached image.
Explanation:
We must determine James' profit for the summer:
Cash collected $12,800
Receivables $730
total revenue = $13,530
Expenses:
Gas, oil and lubrication $1,080 + $190 = $1,270
Repairs $550
Supplies $230
Salaries $6,000
Payroll taxes $290
Filing taxes services $35
Insurance $245
telephone $270
interest expense $65 (I'll use the information provided in the question)
Depreciation $620
total expenses = $9,575
net income = $13,530 - $9,575 = $3,955
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