Minus 500,000.

And at least it'll give you a sense of how revenues, gross profit, operating profit, pre tax income and net income really are different.

It's dependent on how the operations were financed.

They have no interest expense, because that's not the point of this video.

And you'll hear these numbers, gross and operating profit and net profit and pretax profit, and it's very hard to understand that these are actually very, very different things, because they all have the word profit, and what does gross and operating and all that mean?

So that's going to be 500,000 a year.

And when people talk about earnings of a company, this is what they're talking about.

They buy more of your service and they tell more of their friends, which leads to more profit.

The company announced a profit of 200 million after tax.

You can either profit by this or be destroyed.

So, let's see, you have to do 1.85.

So you take the interest out.

But in general if you take EBlT and you take out the non operating income, you get back to operating profits.

So most cash flow statements, they'll start so I'm going to do a cash flow statement right over here

PUMA has 2.7 billion dollars of turnover, 300 million dollars of profits, 200 million dollars after tax, 94 million dollars of externalities, cost to business.

I mean, who owns the electricity from those panels for the longer term?

But just so you know what EBlT is, EBlT is just Earnings

And I'll write it as a negative number because we're going to subtract it from the gross profit.

Are the profits exclusive of taxes?

We know how much it takes to build our product.

That information then needs to be connected to choices, needs to be connected to a range of options, directions that we might go to trade offs, benefits.

With trade, there's mutual interdependency and mutual gain between parties.

And then I'll do a more philosophical video on why these things even exist, and why they're useful, and why people may benefit or may not benefit from these things.

Why isn't it on every poster across the third world?

And we had no expenses in that month.

This is really important to pay attention to, because so many people say, oh, a company made this much.

You'll see this TTM sometimes.

And now we are left with our we're getting close to where we need to get to pre tax income.

So EBlT, I kind of view that it goes backwards.

Pull over.

Right?

He derived great benefit from the book.

I did in that last video it might be interesting to say, is that the pre tax or the post tax return on asset.

It's good for everybody.

It's fantastic at attracting hoverflies, which of course eat aphids amongst other things.

Utilities are still rewarded when their customers waste energy.

And I won't go into all of the details of an income statement, but any income statement you look at will have this operating profit line.

War does have its benefits...

But what do you do when the two come into conflict and you're forced to make a decision that either is in Britain's interest, or the interest of Britons, or citizens elsewhere in the world?

We'll see how to use cryptography to manage passwords, and user accounts.

Cash is a asset because you can use it to buy stuff and get people to do stuff for you

And this is the profit from the operations of the company, or you could say from the assets or from the business or from the enterprise of the company.

Kill the goose that lays the golden eggs.

They have to give permission to let the stock be borrowed, and they benefit, because they get some cut, hopefully, they get some cut of the rent, or the interest that I'm paying.

So you've probably heard not only the term earnings, you've probably also heard the term earnings per share.