14. Jerome is a co-owner of a small company and received 1/3 of the company's profits this year. What were the company's overall profits if Jerome made $150,000? Write an equation and solve.

The equation for this problem is y = 3x, where y is the company's overall profit for this year and x is Jerome's portion of profit for this year. The company's profit for this year is $450,000 which can be acquired by multiplying Jerome's income by 3 ($450,000 = $150,000 x 3). This company is would likely a partnership because the owner gets a big portion of profit from the company.