Go ahead, eat.

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.

Minus 500,000.

This is what the owners of the company get before they pay the government.

(Laughter) But I know it's the bottom line, or one's perception of it, that motivates people in the end.

But here you see it means very, very different things.

A lot of times in the popular press.

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

I'll just abbreviate that as Nl.

We study again our die. You observe the following sequence 1, 2, 3, 2.

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

Our interests clash with theirs.

Recommended Settings

Recommended settings

Recommended Settings...

Supposed suicide.

And so you can already imagine that both EBlT and the way I defined it initially, operating profit divided by assets.

I just want to tell you what you've learned, because you did amazingly well.

Kill the goose that lays the golden eggs.

The taxes will be 153,000.

I'm not a charity commissioner.

A benefit to both our worlds.

We are assuming a very simple world, were the is no taxes, we have no debt, we have no intrest or things

W 0, where 0 is your iteration number, and then you up with it iteratively.

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

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

Stop estimating backup size

Simple extrapolation.

So that's a nice thing to keep in the back of your mind, this return on asset concept, and it's very closely tied to operating profits and the actual assets of a firm.

And that's what these brands did.

FDlC insured.

And that's my dad found that.

The rewards would be... enormous.

This will be difficult.

We find that along the main diagonal our uncertainty has shrunk substantially.

I will now teach you about estimators.

And let's say, assume if I inherited this million dollars, I didn't finance it.

Calculate Recommended Settings

Control estimates their descent at 100 meters an hour.

Estimated time of death? Coroner puts time of death somewhere between 10 and 1 last night.

Before Interest and Taxes.

The reason this is happening boils down, in my mind, to one basic problem, which is our inability to perceive the difference between public benefits and private profits.

This is 350,000 of net income.

This was interest. This was non op income.

This guy makes what is this?