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Relative dating tells us the
Gross Profit Margin
A financial metric that measures the proportion of money left over from revenues after accounting for the cost of goods sold, expressed as a percentage.
Multiple-Step Statement
An income statement that shows numerous steps to arrive at net income, including gross profit, operating income, and other income and expenses.
Single-Step Statement
An income statement format that calculates net income or loss using a single subtraction of total expenses from total revenues.
Net Income
The total profit of a company after accounting for all expenses and taxes; the bottom line of the income statement.
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