30. A
31. C
32. B
Joey-O's Organic Farm Financial Plan
Revenues Budgeted Amounts
From Farming $70,000
From Sales 8,200
Total $78,200
EXPENSES :
Fertilizer $3,000
Pesticides 400
Feed 1,500
Equipment 1,700
Salaries 21,200
Supplies 300
Utilities 2,800
Insurance and
interest 14,900
Repairs 2,100
TOTAL $47,900
PROFIT :
Gross Profit $_____
Tax (at 18%) $_____
Net Profit $_____
30.
What was Joey-O's farm's gross profit?
a) $47,900
b) $30,300
c) $78,200
31.
How much tax did Joey-O's pay?
a) $3,030
b) $7,820
c) $5,454
32.
What was Joey-O's net profit?
a) $30,300
b) $24,846
c) $47,900
1 answer