income statement family Flashcards
1
Q
Total revenue/turnover
A
Selling price x quantity sold
2
Q
Cost of Sales
A
Total variable costs of quantity sold
3
Q
Gross Profit
A
Total Revenue – Cost of Sales
4
Q
Gross Profit Margin %
A
Gross Profit ÷ Revenue x 100
5
Q
Operating Profit
A
Gross Profit – Expenses
6
Q
Operating Profit Margin %
A
Operating Profit ÷ Revenue x 100
7
Q
Profit for the Year/ Net Profit
A
Operating Profit – Interest – Exceptional Items
