What is the sale price at kitchen hut

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On August 8, 2015, Leon’s Kitchen Hut bought a set of pots with a $148 list price from Lambert Manufacturing. Leon’s receives a 25% trade discount. Terms of the sale were 2/10, n/30. On August 14, Leon’s sent a check to Lambert for the pots. Leon’s expenses are 30% of the selling price. Leon’s must also make a profit of 15% of the selling price. A competitor marked down the same set of pots 10%. Assume Leon’s reduces its selling price by 40%.

a. What is the sale price at Kitchen Hut? (Round your answer to the nearest cent.)

Sale price            $

b. What was the operating profit or loss? (Input the amount as a positive value. Round your answer to the nearest cent.)

          $

Reference no: EM132218250

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