given the revenues and expenses table for a business, did the business have a profit or loss for the…

given the revenues and expenses table for a business, did the business have a profit or loss for the month?\n| week | revenues | expenses |\n| ---- | ---- | ---- |\n| 1 | $2500 | $3000 |\n| 2 | $4000 | $3500 |\n| 3 | $3000 | $3000 |\n| 4 | $3200 | $3500 |\nprofit\nloss\nneither

given the revenues and expenses table for a business, did the business have a profit or loss for the month?\n| week | revenues | expenses |\n| ---- | ---- | ---- |\n| 1 | $2500 | $3000 |\n| 2 | $4000 | $3500 |\n| 3 | $3000 | $3000 |\n| 4 | $3200 | $3500 |\nprofit\nloss\nneither

Answer

Explanation:

Step1: Calculate total revenues for the month.

Add the revenues for each of the four weeks. $$ \text{Total Revenues} = $2500 + $4000 + $3000 + $3200 = $12700 $$

Step2: Calculate total expenses for the month.

Add the expenses for each of the four weeks. $$ \text{Total Expenses} = $3000 + $3500 + $3000 + $3500 = $13000 $$

Step3: Calculate profit or loss.

Subtract total expenses from total revenues. $$ \text{Profit/Loss} = \text{Total Revenues} - \text{Total Expenses} $$ $$ \text{Profit/Loss} = $12700 - $13000 = -$300 $$

Step4: Determine if it's a profit or loss.

Since the result is negative, the business had a loss for the month.

Answer:

Loss