Business Studies – 5.3.2 Statement of profit or loss | e-Consult
5.3.2 Statement of profit or loss (1 questions)
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Gross Profit Calculation:
Gross Profit = Revenue - Cost of Goods Sold
Gross Profit = £60,000 - £30,000 = £30,000
Net Profit Calculation:
Net Profit = Gross Profit - Other Expenses
Net Profit = £30,000 - £5,000 = £25,000
Answer:
Gross Profit: £30,000
Net Profit: £25,000