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[Music] all right today were going to look at making a profit loss statement lets say you start with some raw day like this and your boss wants you to turn this into a profit loss statement so you might not know where to start where to go from um ground zero on this so lets just run through at least one way you can do this so first off lets look at what would be income and what would be expenses and this one we pretty much just got one source of income were gonna go ahead and color code this and all the rest of these are expenses so now one way you could do this is just simply to list income and then subtract all expenses and come up with your profit now traditionally on boot keeping cost of goods is actually taken out of the top and then the rest expenses taken out separately so thats how were going to do it today you could simplify this if you dont need to worry about that in your performance so lets go ahead and start with just a blank tab right here im going to make it m
