Question

If total Revenue is $3000, Cost of Goods is $1500, and total Selling Expense is $500; what is the Profit for the business?

Answer 1

Your initial revenue is $3000, so that is what we will be subtracting from. Profit is defined as the amount of money left over after all other expenses are covered.

3000
-1500
-500
$1000

Since you have $1000 left, it is your profit.