Problem 1. Use the appropriate form of the percentage formula. Find P if R=6623% and B=150.
Problem 2. The formula Total cost=Cost+Shipping cost+Installation is used to find the total cost of a business asset. The formula can be written in symbols as T=C+S+I. Solve the formula for I, the installation cost of the asset.
Problem 3. Complete the income statement for Sitha Ros's Oriental Groceries for the years 2011 and 2012.
2011 2012
Net sales $97,195 $92,586
Cost of goods sold 82,127 72,318
Gross profit ? ?
Operating expenses 4,041 3,587
Net income ? ?
Problem 4. Last week at a festival, a man sold 5 times as many tie-dyed T-shirts as silk-screened shirts. He sold 234 shirts altogether. How many tie-dyed shirts did he sell?