A Profit and Loss Statement, also known as an income statement, provides a comprehensive summary of a company's financial results over a specific period. By analyzing this report, investors and analysts can understand the company's profitability, revenues, expenses, and overall viability. Key metrics to consider include gross profit, operating inco

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Profit and loss are essential concepts in business that explain the financial performance of a company. Profit occurs when revenue exceeds expenses, meaning the company generated more money than it spent. Conversely, loss arises when expenses outweigh revenue, indicating the company spent more than it earned. Tracking profit and loss is crucial for