Zach took $200,000 out of the bank and used it to start his new cookie business. The bank account pays 3 percent interest per year.
Zach took $200,000 out of the bank and used it to start his new cookie business. The bank account pays 3 percent interest per year. During the first year of his business, Zach sold 17,000 boxes of cookies for $5 per box. Also, during the first year, the cookie business incurred costs amounting to $50,000. a. What was Zach’s accounting profit for the year? b. […]