Katla, subglacial volcano, southern Iceland, located underneath MÃ½rdalsjÃ¶kull (MÃ½rdals Glacier). Katlaâs summit sits at 4,961 feet (1,512 metres) above sea level, and its oval caldera is about 6 miles (10 km) across at its widest. Katla is one of Icelandâs most active volcanoes, having erupted at least 20 times since the year 1100. Some of these eruptions have been preceded by or occurred simultaneously with eruptions of EyjafjallajÃ¶kull volcano, located some 15.5 miles (25 km) to the west. Volcanoes and glaciers of Iceland.
How it works (Example): The formula for calculating operating income is: Operating Income = Revenue - Cost of Goods Sold (COGS), Labor, and other day-to-day expenses. Operating income is also called Earnings Before Interest and Taxes (EBIT). It is important to understand what expenses are included and excluded when calculating operating income.
Formula. The net income formula is calculated by subtracting total expenses from total revenues. Many different textbooks break the expenses down into subcategories like cost of goods sold, operating expenses, interest, and taxes, but it doesn t matter. All revenues and all expenses are used in this formula.ince Aaron s revenues exceed his expenses, he will show $132,500 profit. If Aaron only made $50,000 of revenues for the year, he would not have negative earnings, however. Instead, he would have a net loss of $17,500. The net income definition goes against the concept of negative profits.