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|1. A company charting its profits notices that the rela- tionship between the number of units sold, x, and the profit, P, is
Knowledge Check 01 Which of the following are explained or reported in the statement of.stockholders equity?
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Answer #1
Slope = Change in Profit/Change in units sold
Let profit be y and Units sold be x
Slope = 6000-3100/250-200
= 58
Therefore y = m x+b
                   y = 58 x+b
3100 = 58(200)+b

b= -8500

y= 58 x-8500
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