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Sally is considering opening up a lemonade stand to earn some spending money over the summer. She estimates each glass of lemonade will cost her $1 to prepare for sale. What does she need to sell it for in order to make $1.50 of gross profit on each glass?

Sally is considering opening up a lemonade stand to earn some spending money over the summer. She estimates each glass of lemonade will cost her $1 to prepare for sale. What does she need to sell it for in order to make $1.50 of gross profit on each glass?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sally is considering opening up a lemonade stand to earn some spending money over the summer. She estimates each glass of lemonade will cost her $1 to prepare for sale. What does she need to sell it for in order to make $1.50 of gross profit on each glass?
Transcribed Image Text:Sally is considering opening up a lemonade stand to earn some spending money over the summer. She estimates each glass of lemonade will cost her $1 to prepare for sale. What does she need to sell it for in order to make $1.50 of gross profit on each glass?
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