Please help with profit and Loss statement..


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I just started my course and stuck here with P+L statement, I think i am not getting it... can somebody help me where am I wrong ..
 
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is the loan goes as income?
should everything from balance go on profit and loss statement??
i dont have any opening inventory, so I just set it as 0?
if : sales 112000,00
Puchases 69000.00
Closing inventory 21000.00
then gross profit 64000???
 
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Joined
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United Kingdom
is the loan goes as income?
should everything from balance go on profit and loss statement??
i dont have any opening inventory, so I just set it as 0?
if : sales 112000,00
Puchases 69000.00
Closing inventory 21000.00
then gross profit 64000???
Loan is not an income, it is debt, short or long term.
Balance sheet shows your financial position at a certain date, for example at month end or a year end. It shows what assets and debt you have.
P&L statement shows your performance results for a certain period.

If the figures in your question are for the same period, then your gross profit is
Calculated as follows:
Sales. 112,000
Less cost of sales. (48,000)
(Opening stock + purchases - closing stock)
69,000 - 21,000
Gross Profit. 64,000

This is your P&L statement on the basis of the figures you provided.
 

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