PROBLEM 2-6 Understanding Business Operations Mary Torres owns and operates a bakery. During the past week, she sold 500 loaves of bread at $2.25 per loaf. The raw materials for each

loaf cost Ms. Torres $1.80. INSTRUCTIONS In your working papers, write the answers to the following questions 1. What type of business does Ms. Tores operate? 2. What was the profit on bread sales for the week? 3. Aside from the costs for raw materials, what other costs will Ms. Torres use to calculate her profit for the week? Chapter 2 The World of Business and Accounting