Alejandro Scoobertini owns a store specializing in soccer jerseys. In 2008, he purchased $150,000 worth of jerseys from manufacturers, employed one worker for $40,000, purchased $20,000 worth of supplies from an office supply store, and sold jerseys for $280,000. Based on this information, what was the value added at Alejandro’s store in 2008?

a) $70,000
b) $110,000
c) $280,000
d) $490,000

ANSWER:

b) $110,000