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If William is a normal-three month-old, we would expect him to be able to
Net Sales
The total revenue from sales less returns, allowances, and discounts.
Cost of Goods Sold
The straightforward costs related to the production of goods a company distributes, encompassing materials and labor expenses.
Gross Profit
The financial measure representing the difference between sales revenue and the cost of goods sold, indicating the efficiency of a company in managing its labor and supplies in production.
Net Income
The company's final earnings following the deduction of all expenses and taxes from the gross revenue.
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