On November 8, Leons Kitchen Hut bought a set of pots with a $105 list price from

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Question:

On November 8, Leon’s Kitchen Hut bought a set of pots with a $105 list price from Lambert Manufacturing. Leon’s receives a 25% trade discount. Terms of the sale were 2/10, n/30. On November 14, Leon’s sent a check to Lambert for the pots. Leon’s expenses are 26% of the selling price. Leon’s must also make a profit of 19% of the selling price. A competitor marked down the same set of pots 40%. Assume Leon’s reduces its selling price by 22%.

What was the operating profit or loss?