In conducting an assessment of her accounting firm, Paige discovers the following annual results: average charge per customer = $250; rent = $12,000; total billings = $150,000; employee compensation and benefits = $60,000; and other costs = $110,000. Given these results, Paige's profits would equal __________.
a loss of $20,000
a loss of $32,000
$28,000
$40,000
$222,000
Answer: a loss of $32,000