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Yes, gross profit minus expenses equal to net income as proved by following:
Sales xxxx
less:
Cost of sales xxxx
Gross profit xxxx
Less:
Admin & Selling expenses xxxx
Other expenses xxxx
Net Income xxxx
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Net income plus operating expenses is equal to gross profit?
gross profit
Does gross profit minus operating expenses equal net income?
yes
Net income will result if gross profit exceeds what?
expenses
Income from operations is gross profit less?
operating expenses
Positive operating income will result if gross profit exceeds?
Positive Operating income will result if gross profit exceeds operating expenses
Net income plus operating expenses is equal to gross profit?
gross profit
Does gross profit minus operating expenses equal net income?
yes
Net income plus operating expenses is equal to?
Net income plus operating expenses equals gross profit, or total revenue. To calculate net income, accountants subtract total expenses from total revenues.
Net income will result if gross profit exceeds what?
expenses
Income from operations is gross profit less?
operating expenses
Positive operating income will result if gross profit exceeds?
Positive Operating income will result if gross profit exceeds operating expenses
How could net profit be greater than gross profit?
It is impossible for net profit to be greater than gross profit. Gross profit is the income made before any expenses. Net profit is less once all expenses have been deducted.
How to prepare a income statement?
Sales - cost of goods sold = gross profit. - operating expenses(i.e marketing expenses and administrative expenses) = operating income. + other income - other expenses = income before tax - tax = net income/profit.
What is netprofit?
Net profit is the profit from gross profit after addition of other [realised] income and deduction of expenses and tax.
Is this statement true or false gross profit minus selling expenses equals net income?
Not really...Gross profit = Net sales - Cost of goods soldThe profit on an item is not dependent upon all of your operating expenses. You would include operating expenses to determine net income for the business, but not to calculate gross profit for the sale of inventory.
Where are selling and administrative expenses found on the multiple-step income statement?
Selling and administration expenses are found under income statement after gross profit section and for the calculation of net profit
Where are selling and administrative expenses found on the multi-step income statement?
after gross profit
