SBM 2000 SBM2000 Week 5 TeamWork (Everest University)
SBM2000 Week 5 TeamWork (Everest University)
Explain the following parts of an income statement:
- Gross profits
- Operating expenses
- Operating profits
- Net profits
Prepare an income statement for a profitable small business. Include at least 10 operating expenses. Use an income tax rate of 25%.