Compute Net Profit from the following information:
Gross profit 6, 00,000; Other Incomes 90,000; Indirect expenses 25,000.
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Calculate net income and gross income with these simple formulas. ... These expenses may include the production costs of products/services, taxes, fees ... However, remember I'm referring to “net profit,” not one of the other profit types. ... As I mentioned above, people often refer to net income as net profit or “the bottom line.
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Explanation:
NP = GP - (other income + inspect expense)
= 6,00,000-(90,000+25,000)
= 6,00,000 - 1,15,000
NP = 4,85,000
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