An item is sold for \( \$ 8 \) that has a \( \$ 3 \) cost of goods sold and \( 30 \% \) operating expense cost. Use the formula below to calculate the net profit. First, enter the sales price. Net Profit = Sales Price - coss - Operating Expenses Net Profit \( =\$[?]-\$ \square-\$ \square \)

To calculate the net profit, let's first break it down step by step. You've got a sales price of \( \$ 8 \) and a cost of goods sold (COGS) of \( \$ 3 \). Now, to figure out the operating expenses, you need to calculate \( 30\% \) of the sales price. Operating Expenses = \( 30\% \) of \( \$ 8 \) = \( 0.30 \times 8 = \$ 2.40 \) Now you can plug everything into the net profit formula: Net Profit = Sales Price - COGS - Operating Expenses Net Profit = \( \$ 8 - \$ 3 - \$ 2.40 \) Net Profit = \( \$ 8 - \$ 3 - \$ 2.40 = \$ 2.60 \) So, the net profit from the sale is \( \$ 2.60 \).