Give the step-by-step reasoning process and then the final answer. A beadshop earns a third of its profit on Monday, a quarter of its profit on Tuesday and the rest of its profit on Wednesday. The shop makes a total profit of $1,200. How much profit, in dollars, was made on Wednesday?
On Monday, 1200 / 3 = 400 dollars were made. On Tuesday, 1200 / 4 = 300 dollars were made. On Wednesday, 1200 - 400 - 300 = 500 dollars were made.
The final answer: 500.