Simple math question about business expenses/profit

Question

My boyfriend and I own a business together and we split the profit and expenses 50/50. We just got paid for a job in the amount of $4,950.00 (Gross). He has already paid $1,507.33 for total job expenses. I am responsible for paying half of the $1,507.33 which I have not paid yet. How much do I get paid for this job before expenses are paid and after my expenses are paid?

Answer 1

Your gross income from the completed job would be $2,475.00 (1/2 of $4,950), before expenses. 50% of the total expenses of $1,507.33 is $753.67 (rounded up). This leaves your total gross income after expenses at $1,721.33.