Answer: Required equation : 1.38 = p +2.54
Last year profit = $ -1.16 million or we can say loss =$ 1.15 million
Step-by-step explanation:
Given : A company makes a profit of $1.38 million. This is $2.54 million more than last year.
Profit this year = 2.54 + Profit in last year
Let p = profit (in millions of dollars) last year.
Then, 1.38 = p +2.54 , is the required equation.
⇒ p = 1.38-2.54
⇒ p= -1.16, which is loss because of negative sign.
Hence, last year profit = $ -1.16 million or we can say loss =$ 1.15 million
