Question

Please help? DId I find the amount of profit or loss of each month? I see I only found the loss. Please help.
January - Income $40,520 Expenses $35,080 = Profit/Loss $5,440
How do I figure the profit? @smokeydabear Or some one help??

Answer 1

net sales - cost of goods sold = gross profit

gross profit - expenses - taxes = net income

if net income is negative, its a loss
if positive its a gain

Answer 2

in this case, it looks like its just finding the difference between income and expenses

Answer 3

If it is only needing me to do the difference between income and expenses then all I come out with are profits not losses? I get confused because # 4 asks that question. Help @smokeydabear

Answer 4

Are the losses the expenses? And find the mean and media in that? If yes that I understand.

Answer 5

@mathstudent55

Answer 6

Please help

Answer 7

a few terms that you might be confusing.

profit and loss are determine by the difference between income and expenses.

income is how much you make, expenses are how much you spend.

if, income - expenses is positive then youve made a profit
if, income - expenses is negative then youve made a loss

for example; if you make $25 mowing your neighbors lawn, but it cost you $3 in gas and $18 to fix the sprinkler head you ran over ...

income: $25

expense: $ 3
18
---
$21

did you make a profit or a loss?

25 - 21 = 4 , you made $4 profit.

Answer 8

as far as your chart goes, they have already indicated that the expense is a subtraction; so combining your income and expense amounts will give you the amount of profit or loss for that month.

Answer 9

ok Thank @amistre64

Answer 10

ok Thank @amistre64

Answer 11

youre welcome