Subtraction Word Problems — Examples & Practice

Michael owns a landscaping company. He wants to figure out how much profit he had made in the last year. Profit is defined as the difference between total revenue (the amount of money received) and total cost (the amount of money spent). He paid his employees an average of $25$ dollars per hour, and they collectively worked a total number of $t$ hours. He also had to spend $20{,}000$ dollars on new equipment. If his total revenue is represented by the quantity $R$, what was Michael's profit?