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Jim is a florist who runs Bountiful Flower Shop as a sole owner. His typical...

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Accounting

Jim is a florist who runs Bountiful Flower Shop as a sole owner. His typical monthly operating results include the following: sales revenue $4,000, flower costs $800, supplies $300, labor costs $600, utilities $250, rent $720, and other costs $350.Jim recently attended a trade show and was attracted by a national chain that offered him referral service, baskets, and new flower arrangements in exchange for a monthly licensing fee of $1,000.He figures that the additional business from referrals will increase his revenues by 40%, flower materials, supplies, and labor costs by 45%, utilities by 10%, and other costs by 20%.Rent will not change as he would still use the same facility.

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