It is Friday and the first pay day after the holiday rush period.
Sam, our hypothetical student, needs to complete an inventory of the record store before receiving his cheque at the end of his shift.
Use this spreadsheet to help you answer the questions posed in the forms below.
Gross Profit
Amount of money made by the business by selling its products
minus the cost of the good sold
Q: Do businesses have expenses?
Q: How would you define Net Profit?