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A companys net income also called net profit or bottom line is the amount of income leftover after subtracting all business expenses from its total revenue.
Net income profit. Gross Profit 340. The calculation used is net income net sales revenue x 100. Net profit Gross profit All indirect expenses.
In other words it is the net increase in shareholders equity. All indirect expenses 150. The difference between revenue profit and income can be drawn clearly on the following grounds.
These expenses may include the production costs of productsservices taxes fees operational costs etc. His net profit will be 190. Net profit is the gross profit minus indirect expenses.
Net income is synonymous with a companys profit for the accounting period. In the absence of revenue there is neither profit nor income in the business. Net income is a broader term than gross profit because it represents the total net profit the company generates.
Suppose in the above example Mr. If 75000 is allocated for salaries 25000 to operating expenses and 5000 to taxes those numbers are then subtracted from the gross profit. Here is the equation.
More specifically net income is the total revenue from all sources less all expenses and costs necessary for the company to generate profits. Net income Total revenues Total expenses. These include wages salaries utilities and other expenses.
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