Statement of Comprehensive Income Equations Flashcards by Sierra Productions | Brainscape

Q

GrossProfit=

A

Revenue−CostofGoodsSold

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Q

Cost of goods sold=

A

(OpeningInventory+Purchases) −ClosingInventory

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Q

Operating profit=

A

GrossProfit−OperatingExpenses

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Q

Net profit=

A

(OperatingProfit+OtherIncome) −OtherExpenses

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