Lynh manages a small company with 12 employees. He offers profit sharing where 5% of profits at end of year is distributed evenl

Question

2 months ago

9

y to the employees. Each employee earned $2,300 in profit sharing in 2013. What was the total profit?

2 answers:

lawyer [12.5K] · Answer 1 · 2026-03-24T07:05:40+03:00

6 0

I arrived at 46,000 by taking 2,300 and dividing it by 5, resulting in 460, and then multiplying that by 100

Inessa [12.5K] · Answer 2 · 2026-03-24T07:03:31+03:00

To ascertain the total profit of Lynh Mangoes, we know that 5% of the profit is distributed equally among 12 employees.

Each employee received $2,300

The combined profit for 12 employees equals $2,300 × profit per employee

Resulting in a total of $27,600 for the 12 employees

Knowing that 5% is to be shared means

Thus, 5% of the total profit equals $27,600

To find the total profit, we calculate: total profit = $27,600 ÷ 5%

This results in a total profit of $552,000