7th Grade Pre-algebra

I need help with ANOTHER 7th grade Pre-Algebra problem (lol) (please just give me directions)?
Each share of stock in the United Electronics had a value of $34 3/4 on Monday. The value of stock declined by $1 5/8 on Tuesday and by $7/8 on Wednesday. What was the value of stock after wednesday?
Convert 3/4 to 6/8 to get similar bases. Then 34 6/8 minus 1 5/8 equals 33 1/8. Then subtracting 7/8 from 33 1/8 gets you 32 2/8. Simplify 2/8 to 1/4 and then you have $32 1/4 after wednesday.
Mathematical Phantasma

