Lisa and Joseph Own a Lighting Store

question 49

Short Answer

Lisa and Joseph own a lighting store. Last year, their net profit was $245,000. If last year's operating costs were $629,501, what were last year's gross profits?

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Definitions:

Production

The process of creating goods and services, involving the transformation of inputs into finished products.

Enterprise Resource Planning (ERP)

Integrated management software systems used by organizations to manage day-to-day business activities, such as accounting, procurement, project management, and manufacturing.

E-learning

Learning conducted via electronic media, typically on the Internet, enabling users to learn anytime and anywhere.

Digital Format

The representation of data in a numerical form that can be easily stored, transmitted, and processed by electronic devices.