You are considering opening a kiosk in the mall that will sell customizable aprons. you need to borrow money?

from the bank to get the business started and estimate that you will need approximately $20,000. The bank would like you to prepare an estimated profit statement showing what the expectation of the paint and supplies company are. you will pay $6 for the aprons and will sell them for $10. You estimate that you can sell 1,000 aprons per month. the cost to customize the aprons will be $1 per apron. the cost of rent of the kiosk will be $500/month. utilities will be $200 per month. wages of workers will total $1,000 per month. a. calculate the estimated profit of your company for the first year of operation.