Entrepreneurship Math Worksheet
Entrepreneurship Math Worksheet
Entrepreneurship Math Worksheet
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2. Determine the following information utilizing the income statement of a service<br />
business:<br />
a. Gross Income $________10,000__________ d. Sales Revenue: $_____10,000_______<br />
b. Net Income $ _________3,300___________ e. COGS $________-0-______________<br />
c. Operating Expenses $_____6,700_________ f. Profit/Loss $_______3,300__________<br />
ABC Service Company<br />
Income Statement<br />
For the Month Ending May 31, 20XX<br />
Service Revenue: $10,000<br />
Expenses:<br />
Office Supplies<br />
Rent<br />
Salaries<br />
Utilities<br />
Total Expenses<br />
NET INCOME:<br />
$ 200<br />
1,000<br />
5,000<br />
500<br />
6,700<br />
$3,300<br />
3. Utilizing the Income Statement above, determine the break-even point for ABC Service<br />
Company.<br />
Average Service Fee: $500<br />
Break-even Point: _____13.4________clients/month<br />
6,700 / 500 = 13.4<br />
4. Utilizing the following information, determine how many units you must sell to breakeven:<br />
Widget Selling Price: $20<br />
Break-even Point: ________4,375_________units<br />
Fixed Costs: $70,000 70,000 / (20-8) = 4,375<br />
Variable Costs (per unit): $8
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