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What is the sale price at kitchen hut and what was the

On July 8, 2009, Leon's Kitchen Hut bought a set of pots with a $120 list price from Lambert Manufacturing. Leon's receives a 25% trade discount. Terms of the sale were 2/10, n/30. On July 14, Leon's sent a check to Lambert for the pots. Leon's expenses are 20% 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 30%. Assume Leon's reduces its selling price by 30%.

What is the sale price at Kitchen Hut?

What was the operating profit or loss?

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Accounting Basics: What is the sale price at kitchen hut and what was the

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