income statement family Flashcards

1
Q

Total revenue/turnover

A

Selling price x quantity sold

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2
Q

Cost of Sales

A

Total variable costs of quantity sold

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3
Q

Gross Profit

A

Total Revenue – Cost of Sales

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4
Q

Gross Profit Margin %

A

Gross Profit ÷ Revenue x 100

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5
Q

Operating Profit

A

Gross Profit – Expenses

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6
Q

Operating Profit Margin %

A

Operating Profit ÷ Revenue x 100

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7
Q

Profit for the Year/ Net Profit

A

Operating Profit – Interest – Exceptional Items

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