Answer Posted / vinotha.v

1. GROSS PROFIT = [OPENING STOCK + PURCHASE ( PURCHAS -
PURCHASE RETURN) + DIRCET EXPENSES] - [SALES ( SALES -
SALES RETURN)+ CLOSING STOCK].

NET PROFIT = [GROSS PROFIT + INCOMES] - [EXPENDITURE]

2. GROSS PROFIT INCLUDED THE DIRECT EXPENSES.

NET PROFIT INCLUDED ONLY INDIRECT EXPENSES.

CALCULATION :

1. NET PROFIT = GROSS PROFIT + ALL INCOMES - ALL
EXPENDITURE.

2. GROSS PROFIT = NET PROFIT + ALL EXPENDITURE - ALL INCOMES

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