video1.0<iframe src="https://www.loom.com/embed/46ddfb33e9254f5284d3cd85031a743c" frameborder="0" width="1600" height="1200" webkitallowfullscreen mozallowfullscreen allowfullscreen></iframe>12001600Loomhttps://www.loom.com12001600https://cdn.loom.com/sessions/thumbnails/46ddfb33e9254f5284d3cd85031a743c-1698745633473.gif509.4499999999998In this video, I walk you through the process of calculating our profit or loss by examining the income statement. We start with revenue, subtract the cost of goods to find gross margin, and then deduct other costs to arrive at our final profit or loss. I also touch on various profit terms like operating profit and EBITDA, which is closely related to cash flow. It's important to remember that while we may not pay taxes immediately, we need to plan for them once we reach profitability. Moving forward, we will transition to discussing cash flow in the next section.