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.
Net profit is the gross profit (revenue minus cost of goods) minus operating expenses and all other expenses, such as taxes and interest paid on debt. The formula for net profit margin is as follows: Net profit margin = (revenue - cost of goods - operating expenses - other expenses - interest - taxes) / revenue.