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short answer is Yes but you have to add in cost of merchandise sold. Here is the formula that you use
Merchandise Business
Sales - Cost of Merch Sold = Gross profit
Gross profit - Operating expenses=Net Income
whereas Service Industry
Fees Earned
- Operating Expenses
Give you Net Income
What else can I help you with?
When preparing a merchandise purchase budget the required purchase in units equals?
budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.
What is total operating costs minus gross profit?
Total operating costs minus gross profit equals operating loss or operating income, depending on the values of each. If total operating costs exceed gross profit, the result is an operating loss, indicating that the company is not generating enough revenue to cover its operating expenses. Conversely, if gross profit exceeds total operating costs, the result is operating income, reflecting a profitable operation. This metric is crucial for assessing a company's operational efficiency and financial health.
Revenue less expenses equals?
Net income or Profit
What does Gross profit equals the difference between?
Gross profit equals the difference between total revenue and the cost of goods sold (COGS). It represents the profit a company makes after accounting for the direct costs associated with producing its products or services. This figure is crucial for assessing a company's operational efficiency and profitability before considering operating expenses, taxes, and other costs.
What is a break-even quantity?
The point at which the value of sales of an item equals the total expenses incurred in producing or obtaining it.
In merchandise business sales minus operating expenses equals net income is this statement true or false?
False
Product costs plus operating expenses plus profit equals?
selling price
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.
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.
Does Sales - cost of goods sold - operating expenses equals net income?
no u iodiot revune - expense = n/i
Cost of goods sold plus gross profit equals?
Cost of goods plus gross profit margin equals to total sales revenue of firm.
What is net property income?
Net operating income (NOI) is a calculation used to analyze real estate investments that generate income. Net operating income equals all revenue from the property minus all reasonably necessary operating expenses.
When preparing a merchandise purchase budget the required purchase in units equals?
budgeted unit sales - beginning merchandise inventory + desired merchandise ending inventory.
Profit of a business?
The profit of a business equals all income (of all types) less all epenses paid by the business gives you the net profit of the business. Most businesses produce a Profit & Loss Statement which will provide the net profit after income and expenses. http://taxresolutionaires.blogspot.com
What is the revenue-net income?
Net income equals revenue minus expenses minus taxes So, revenue minus net income equals expenses plus taxes
Revenue less expenses equals?
Net income or Profit
Mortality minus interest plus expenses equals?
Net Premium
