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Gourmet Delight Bistro had a 10% return on a $75,000 investment in new kitchen equipment. The investment resulted in increased sales and an increase in income that was 4% of the increase in sales. What was the increase in sales?

Gourmet Delight Bistro had a 10% return on a $75,000 investment in new kitchen equipment. The investment resulted in increased sales and an increase in income that was 4% of the increase in sales. What was the increase in sales?

Financial Management: Theory & Practice
Financial Management: Theory & Practice
16th Edition
ISBN:9781337909730
Author:Brigham
Publisher:Brigham
Chapter7: Corporate Valuation And Stock Valuation
Section: Chapter Questions
Problem 9MC
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Gourmet Delight Bistro had a 10% return on a $75,000 investment in new kitchen equipment. The investment resulted in increased sales and an increase in income that was 4% of the increase in sales. What was the increase in sales?
Transcribed Image Text:Gourmet Delight Bistro had a 10% return on a $75,000 investment in new kitchen equipment. The investment resulted in increased sales and an increase in income that was 4% of the increase in sales. What was the increase in sales?
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