Calculate the estimated profit of first year of operation

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You are considering opening a kiosk in themall that will sell customizable aprons. You need to borrow money fromt eh 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 aprons will be $1 per apron. The cost of rent of the kiosk will be $500/month. Utilities will be $200/month. Wages of worker will total a $1,000 per month.

a. Calculate the estimated profit of your company for the first year of operation.

Reference no: EM13144221

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