ECONOMICS

Detailed explanation-1: -Net profit reflects the amount of money you are left with after having paid all your allowable business expenses, while gross profit is the amount of money you are left with after deducting the cost of goods sold from revenue. You need to calculate gross profit to arrive at net profit.

Detailed explanation-2: -There are three main measures of profit. These are gross profit, operating profit and net profit.

Detailed explanation-3: -What is Net Income? Net income is the amount of accounting profit a company has left over after paying off all its expenses. Net income is found by taking sales revenue and subtracting COGS, SG&A, depreciation, and amortization, interest expense, taxes and any other expenses.

Detailed explanation-4: -Revenue is the total amount of money earned by a company for selling its goods and services. Many analysts use the terms revenue and sales interchangeably. Companies usually report their revenue on a quarterly and annual basis in their financial statements.