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.
Gross Revenue and Profit. Gross revenue is closely tied to net income or profit. Net Income is equal to gross revenue minus the total expenses or costs a business pays during a certain period of time. For example, if a companyâs monthly gross revenue is $80,000 and its total monthly expenses equal $50,000, its monthly profit is $30,000.