Is net profit and net income the same thing?

Question

I need to know for a presentation,and I am trying to calculate ratios. One is asking for pretax income, but I only have pretax profits. Are they the same?

Answer 1

Not necessarily, because taxes and depreciation of earnings can be included.

Answer 2

To make up for 4 years of false information on Yahoo Answers, yes, net profit and net income are the same thing. Gross Profit = Net Revenues - Cost of Sales (Cost of Goods Sold or COGS) Net Profit (aka Net Income, Bottom Line, etc) = Gross Profit - Operating Expenses - Taxes

Answer 3

Income is before deductions for costs. It is what the business receives. Profit is the difference between income and costs. Net is after deductions such as taxes.
So, net income is after tax income
net profit is after tax profit.
profit = income - costs
gross income is pretax income
gross profit is pretax profit.
I hope this helps

Answer 4

Net income is the total amount of money that was accrued.
Net profit is the net income minus any costs associated with obtaining that income.

Example: A business made 1 million in total revenue and the costs for running the business was $700,000.

The net income is 1 million
The net profit is $300,000

Answer 5

You are selling a potato at 5$ which you bought for $3. You earned $2 (i.e. Net Profit) than you pay $0.05 for ever potato that you ssell to the government. So your Net Income will be
$(2-0.05)

cheers

Answer 6

Nope... net profit is net income minus expenses.

Answer 7

No. the main difference between the two is this:

Ex. you buy 10 apples. then sell the 10 apples.

Income - is how much you make from selling the apples.
Profit - is how much you make after subtracting how much you paid for the apples.

Answer 8

no, they are not the same things.