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A realtor met with a client who had been declined by five banks for financing. Upon reviewing the client's profit and loss statement, the client realizes the client is in financial trouble. In the tutorial, the viewer will learn how to create a profit and loss statement, its importance, and will receive a template for their own business. A profit and loss statement is simply gross sales minus costs minus fixed expenses over a specified period. It is important for tracking financial health and making informed decisions.
