income statements, A report that shows how much money a business earned and spent during a period (month, quarter, or year) and how much is left at the end., Profit, Earn more than you spend, To pay money out for things the business needs, like rent, salaries, or materials., Spend, To receive money in return for work or for selling something., earn, Subtracted, Taken away; the same as “minus”. In accounting we subtract costs from income., Sales revenue, All the money a business receives from selling products or services, Everyday costs of running a business : office rent, managers’ salaries, electricity, accounting. ., G&A, When you spend more than you earn. The result is negative: you lose money., Loss, Another name for net income.“the final result”., bottom line, Money a business must pay to the government, usually based on the profit it makes., Taxes
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