You are considering opening a kiosk in the mall that will sell customizable aprons. You need to borrow money from the bank to get the business started and estimate that you will need approximately $20,000. The bank would like you to prepare an estimated profit statement showing what the expectations of the company are. You will pay $6 for the aprons and will sell them for $10. You estimate that you can sell 1,000 aprons per month. The cost of paint and supplies to customize the shirts...
Calculate the estimated profit of your company for the first year of operation.