Question

At Sam’s Swimming Pool Cleaning, Sam charges each of his 85 customers $25 per week for 52 weeks of service every year. Since pool cleaning is a service, it has no cost other than labor and supplies, which cost Sam $48,000 each year.

Calculate Sam’s annual gross profit.
a.
$2,125
b.
$4,420
c.
$62,500
d.
$110,500

Answer 1

Sam’s annual gross profit is C. $62,500.

Further explanation

Sam charges each of his customers $25 per week for 52 weeks of service every year. It means that for one customer, Sam will get :

$25 × 52 = $1300 → for each of customer

Because there are 85 customers, Sam will get total income for :

85 × $1300 = $110,500

At last, we could calculate Sam's annual gross profit.

Annual Gross Profit = Total Income - Total Cost

Annual Gross Profit = $110,500 - $48,000

Annual Gross Profit = $62,500

Learn more

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Answer details

Grade: High School

Subject: Mathematics

Chapter: Profit and Loss

Keywords: Profit, Loss, Annual, Gross, Labor, Supplies, Service

Answer 2

Answer:

c...

Step-by-step explanation: