![]() Subtract the total income taxes from the business’s net profit before taxes to determine the total net profit or net loss. List the amount and subtract the company’s total income taxes. Subtract the operating income total from the interest expenses to determine the company’s net profit before taxes. List any applicable interest expense immediately below the operating income.Ĭomplete the profit portion of the spreadsheet to determine your business’s profit or loss. Enter the total operating amount below the total expenses amount. Use separate lines for each item, add the items and enter the total expenses on a separate line.ĭefine the company’s operating income by subtracting the gross profit amount from the total expenses. Include the selling expenses, as well as the general and administrative expenses in this configuration. Subtract the total amount of the costs of goods sold from the total net sales amount to obtain your company’s total gross profit.Ĭalculate your company’s expenses. Subtract the company’s ending inventory amount from this total to reach the total cost of goods sold. Add those items together and enter the total underneath. Offset the net sales with the company’s total cost of goods sold.ĭetermine the costs of goods sold by providing separate, itemized lines for the company’s beginning inventory, purchases and labor costs. Enter your company’s total net sales amount. Configure the sales portion of the spreadsheet.
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May 2023
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