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Miami, FL, August 11th, 2014
* Income Statement.
Now that we have concluded all the initial transactions, we will
be able to present them in a format that will show sales and
various expenses that will concluded with a bottom line that
presents in an easy way how to understand the profits or losses
generated, that will be used for discussion purposes among
company’s management.
The following report shows that “John our client” has a gross
profit of 50% which is in percentage the amount gained by the
ducting the cost of sales from the total amount of sales. Next
point to analyze will be the net profit that in our sample is
the amount left after deducting all the expenses from our sales.
In this case profits are 25% of total sales or $210.00
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* Fernando Angel
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