Cleveland's healthcare sector also includes University Hospitals of Cleveland, a renowned center for cancer treatment, MetroHealth medical center, and the insurance company Medical Mutual of Ohio. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland.
There are several measurements of profit, including gross profit, operating profit and net profit. Gross profit is sales less the cost of goods sold. Cost of goods sold includes materials, labor and overhead. Operating profit is gross profit less sales expense, general expense and administrative expense. Net profit is operating profit less interest, taxes and other expense. Profit measurements are sometimes referred to as margins and are expressed as a percentage by dividing profit dollars by sales.
Profit Basics. Profit is the long-term objective of any for-profit business. Profit is the net income of the business. In general, profit equals revenue less expenses. However, companies typically calculate multiple measures of profit on an income statement. Gross profit shows the total revenue minus the variable costs, or cost of goods sold. Operating income and non-operating activities are added or subtracted to gross profit to determine total profit for a given period.