You need financial records to see if the business is making a profit or a loss.
Gross Profit - Amount of profit left after the cost of producing the good is deducted from sales revenue.
Net Profit - Smaller amount of profit made after all expenses are deducted from gross profit.
Value owed to business - Money owed to the business which hasn't been paid yet.
Valued owed by the business - Money the business owes to others for goods.
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