Question

Calculate the profit or loss of a dentist who collected $53,000 in fees and had the following expenses: salaries (2 nurses and a secretary) $32,000 rent $7,500 supplies $3,500 miscellaneous $2,750 profit (or loss)

Answer 1

Profit/Loss = Income - Expenses 
If the value calculated is positive the dentist made a profit, if it's negative...he made a loss.

Therefore the profit/Loss would be 53,000 - 32,000 - 7500 - 3500 - 2750 = 7,250 

The value is positive, meaning that he made a profit of $7,250.