QUESTION 3 3.2 Explain each element of the aggregate income equation, other than aggregate
income
(Y).​

The total revenue Solitare would report over the two months is $99 with a gross loss of $11.74

Explanation:

Particulars                                                  Amount ($)

Sales (January & February)

- Wizard Inc                                                     $50

- Spyder Corp                                                 $50

Less: Discount allowed to Wizard Inc           $1          ($50 * 2%)

Net Sales                                                         $99

Less: Cost of goods sold (60.6+50.14)          $110.74

Gross Loss                                                       $11.74