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...By the end of these tasks you will be able to define and explain purpose an income statement know layout what include within make calculations optic in challenge calculate profitability ratios analyse business performance knowledge application analysis evaluation introduction statements main activity a trading is buy goods at one price sell same higher difference between two prices represents profit known as gross for each item totalled show figure financial year needs produce showing student need follows wyvern wholesalers ended december sales revenue less returns net opening inventory january see slide formulae purchases b c d carriage purchase closing cost key terms money coming into from only items that trades with sells on are has stock which have been sold expense having delivered...