Mining equipment was purchased at a wholesale price of $1,365 less 35% and 5%. The retail price is based on a 31% mark-up on cost. The retailer's operating expenses is approximately 10% of the selling price. Determine the profit or loss realized if the product is put on sale for $938.56.

Wholesale Price

The price charged for goods or services when sold in large quantities, usually to retailers who then sell them to the public.

Retail Price

The total cost at which an item is sold to the consumer, which includes the cost of production, distribution, and a markup for profit.

Operating Expenses

Costs associated with operating a business, excluding the cost of goods sold.