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4 levels of profitability on the profit and loss. Gross profit is what’s left over after subtracting your COGS from your Revenue. Net operating income is what’s left over after subtracting your operating expenses from your Gross profit. Net other income is your other income less your other expense. Net income if your bottom line profit, representing all income accounts less all expense accounts. #profitandloss #financialstatements #cfo #cpa #finance #accounting #finance101
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