Martin and Reynolds provides hair cutting services in the local community. In January, the business incurred the following operating costs to cut the hair of 220 clients:

Martin and Reynolds earned \($4,900\) in revenues from haircuts for the month of January.
Requirements

1. What is the net operating income for the month?
2. What is the cost of one haircut?

Transcribed Image Text:

Hair supplies expense... Building rent expense Utilities......... Depreciation on equipment..... $ 700 1,400 100 60