Gross Profit Calculation for the Year

What is the gross profit for the year?

The gross profit for the year is $150,000.

Gross profit represents the revenue remaining after deducting the cost of goods sold. It is an important indicator of a company's profitability. In this case, the gross profit for the year amounts to $150,000. It indicates that the company earned $150,000 in revenue after accounting for the direct costs associated with producing and selling its products or services. This figure does not include other expenses such as operating expenses, interest, or taxes. Gross profit is a key metric used to assess the financial performance and efficiency of a business.