What is a Profit and loss statement? Part 2/2

Continuing on from our last video, I wanted to go over some major components of the Profit and loss statement 

Gross Profit: The money you earned before subtracting the cost of goods sold. Such as the money inside the register

COGS (cost of goods sold) which lists the prices of all products sold in store

Revenue: The cash left after subtracting COGS from Gross Profit

Operating Expenses, the money used to keep the business operational, such as utilities or rent or salaries.

Finally our Net Income / Loss.  Subtracting the Operating expenses from our revenue gives us our bottom line. PROFIT!

https://video.wixstatic.com/video/9120c0_7908da14b1aa439683d7c0ae3cdf73fb/1080p/mp4/file.mp4