Income Statement- 1 by Chelsea Smith https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8 Work with your assigned group to fill in your piece of the Income Statement en-us 2022-10-24 11:50:42 UTC 2026-02-25 11:30:16 UTC hello@padlet.com TAXES smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353447391 Synonyms
None

What’s it mean?
How much you pay to Uncle Sam (govt).

DBA Examples
We pay 7.5% of the revenue for taxable sales.]]> 2022-10-24 11:59:57 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353447391 PROFIT MARGIN smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353476743 Formula
Net Profit / Revenue

What’s it mean?
To gauge the degree to which a company or a business activity makes money. It represents what percentage of sales has turned into profits. How many cents of profit has been generated for each dollar of sale.

DBA Examples
14% ]]> 2022-10-24 12:21:05 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353476743 (-) smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353477529 2022-10-24 12:21:42 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353477529 (=) smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353477984 2022-10-24 12:22:01 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353477984 (-) smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353478367 2022-10-24 12:22:15 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353478367 (-) smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353478701 2022-10-24 12:22:26 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353478701 (=) smith_chelsea1 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353478928 2022-10-24 12:22:34 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2353478928 COST OF GOODS SOLD https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355300801 Synonyms
Cost of sales, COGS
What's it mean?
The amount a business paid directly related to the sale of goods.
DBA Examples
How much it costs to produce a shirt. (Materials, equipment, labor, etc)]]> 2022-10-25 11:58:06 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355300801 Net Profit (loss) https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355301261 Synonyms- Earnings, Profit, Lucre

What’s it mean?- the difference between the gross profit or loss and the total indirect income/expenses for a business

DBA Examples- Missing an order, spending more on shirt and colors than the COGS. The total money after expences of shirts, screens, and colors. ]]> 2022-10-25 11:58:29 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355301261 REVENUE https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355302719 Synonyms
income, earnings, takings, sales, cash
What’s it mean?
the total money that is brought in
DBA Example
Our sales]]> 2022-10-25 11:59:44 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355302719 income statement https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355304025 income statement, Definition: a financial statement that shows the companies revenues in a particular period. 
What does it tell us? That the revenues are transformed into the net profit or net income
Time period (s)? A 12 month calendar 
How is it used? Used to show the revenue and accounting expenses in an accounting period. ]]> 2022-10-25 12:00:55 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355304025 Gross Profit frost22 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355308200
  • Synonyms
    • Sales Profit, Gross Income.
    • What does it mean?
    Gross profit is the total sales of the company minus the total cost of goods sold.
    • DBA Examples:
    Total Revenue - Total Expenses for the business.

    ]]>     2022-10-25 12:04:22 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355308200     Expenses lowery21 https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355309888 Includes:
    Operation expenses, wages, advertising, parts and equipment, loans, accounting expenditures, shipping costs, employee benefits, loans
    What does it mean?
    the cost required for something
    DBA examples
    The amount we spend on promotional items is an expense]]>     2022-10-25 12:05:33 UTC https://padlet.com/smith_chelsea1/s8o801k9nio2dmh8/wish/2355309888