COST OF SALES - This is the cost to the business of making the products they are going to sell, EXPENSES - These are the costs incurred during the day to day running of the business, SALES REVENUE - This is the money received from selling goods or services, PROFIT/LOSS FOR THE YEAR - This is the profit the business makes after expenses are deducted from gross profit, GROSS PROFIT/LOSS - The profit / loss made from buying and selling goods, GROSS PROFIT CALCULATION - SALES REVENUE - COST OF GOODS SOLD, PROFIT FOR THE YEAR CALCULATION - GROSS PROFIT - EXPENSES, INCOME STATEMENT  - Financial document which shows money coming into the business, the costs of the business and any profit that is made.,

INCOME STATEMENTS

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