Discussion Topic:
For this week’s discussion, please watch the assigned video first. Once you’ve completed watching the video, list all the fixed expenses you might have for the business you identified in week 1. Once you’ve identified your fixed expenses, put a dollar amount (per month) to each expense. Based on the total amount of your fixed expenses, how much should your revenues be in order to make money. Keep in mind that you do not know the cost of goods sold at this time, but you can assume that it will be 50% of your projected revenue. How easy/difficult would it be to make a profit? Explain your thinking! Be specific!
Video: How to Read a Profit and Loss Statement
https://www.youtube.com/watch?v=NCL-kB7k30Q (please copy and paste the link into your browser; this link is disabled for copyright reasons).
