Grace knows the result of the equation "Sales-Expenses = Profits" can be found on the:

Question

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The equation "Sales-Expenses = Profits" is used to calculate the net profit or loss of a business, which is reported on the statement of profit and loss and other comprehensive income. The statement of cash flow shows the inflows and outflows of cash over a period of time, while retained earnings represents the accumulated profits or losses of a company. The statement of financial position shows the assets, liabilities, and equity of a company at a specific point in time.

Grace Knows the Result of the Equation "Sales-Expenses = Profits