Income is the price × the number sold, added up for every item. Profit is income minus costs. If the costs are bigger than the income, the difference is a loss.
incomemoney that comes in from selling
expensemoney spent to run things
profitincome minus costs, when income is bigger
losshow much the costs are more than income
fixed costcosts the same every month
Watch for: Taking the costs from one item's price instead of from total income. Calling a result a profit when the costs are bigger than the income. Lining up dollars and cents wrongly, as in $51.00 − $36.33.
At home: Plan a pretend lemonade stand: list what the supplies would cost, pick a price, and work out how many cups must sell to cover the costs.
Sample sheet and answer key
Luna's Space Adventure
Grade 4 · Expenses and profit · 4.10B
NameDate
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
Fixed or variable?
Fixed costs the same every month. Variable changes.
Movie ticketsFixedVariable
SnacksFixedVariable
Streaming serviceFixedVariable
Gym membershipFixedVariable
A month of costs
Nova's family, one month. Write fixed or variable, then add.
Expense
Cost
Type
New clothes
$88
Gas for the car
$82
Groceries
$355
Car payment
$187
Fixed, in all?
Variable, in all?
The whole month?
The bake sale
Orion's supplies cost $50. Profit = income − costs.
Item
Price
Sold
Income
Brownies
$6
5
Muffins
$1
13
Cookies
$6
15
Total income?
Profit?
Profit or loss?
Write profit or loss, and how much.
Business
Income
Costs
Result
Amount
Zed's lemonade stand
$143.39
$127.24
Nova's lemonade stand
$145.03
$133.66
Luna's bake sale
$232.20
$247.33
Sheet
Luna's Space Adventure
Grade 4 · Expenses and profit · 4.10B
Answer key
Astronaut Luna is exploring a far-off corner of space. Solve each problem to help Luna's mission go smoothly!
Fixed or variable?
Fixed costs the same every month. Variable changes.
Movie ticketsFixedVariable
SnacksFixedVariable
Streaming serviceFixedVariable
Gym membershipFixedVariable
A month of costs
Nova's family, one month. Write fixed or variable, then add.
Expense
Cost
Type
New clothes
$88
Variable
Gas for the car
$82
Variable
Groceries
$355
Variable
Car payment
$187
Fixed
Fixed, in all?$187
Variable, in all?$525
The whole month?$712
The bake sale
Orion's supplies cost $50. Profit = income − costs.
Item
Price
Sold
Income
Brownies
$6
5
$30
Muffins
$1
13
$13
Cookies
$6
15
$90
Total income?$133
Profit?$83
Profit or loss?
Write profit or loss, and how much.
Business
Income
Costs
Result
Amount
Zed's lemonade stand
$143.39
$127.24
profit
$16.15
Nova's lemonade stand
$145.03
$133.66
profit
$11.37
Luna's bake sale
$232.20
$247.33
loss
$15.13
Answer key
New problems every time, three levels (gentle, core and stretch), themes to pick from, a second page if you want one. Each sheet comes with an answer key and a one-page guide for grown-ups.
