Real-Life Math
You are a dancer who owns the City Dance Studio. It is time for year-end
accounting and you have to account for the income and expenses of your studio
this year.
"I think more dancers should keep up to date with basic
math skills. Accounting is huge part of your business, and you being your
own business makes it mandatory. Dancers use math in various situations such
as budgeting, accounting and negotiations," says Robin Merchant. She is a
professional commercial dancer.
This year, your studio
brought in $132,899 from lesson fees. You made an additional $3,550 from selling
tickets to your performances. Your costs include paying your instructors
(three part-time instructors make $20,000 each), advertising budget ($3,000),
insurance ($10,000), rent for your studio space ($24,000) and the cost of
renting the venue for performances ($750).
Did your studio make money
this year?