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In this tutorial, Sarah teaches how to understand and generate a profit and loss (P&L) report in QuickBooks, also known as an income statement. The report summarizes income and expenses, helping business owners determine if they are profitable. Sarah outlines four key goals for business owners: 1) to make sales, 2) to sell products at a price covering production costs, 3) to sell enough to cover business operational costs, and 4) to earn a profit. She explains how to access the P&L report by going to Reports, selecting Standard, navigating to Business Overview, and finding the Profit and Loss option. Further steps are to follow in the tutorial.