ocr: Pro Forma Detinition - this tinancial statement measures the business's success or otherwise in generating profit. The trading period reported will normally be of12 months duration and soit may be usetul to imagine the Protit & Loss account as a video film depicting the tinancial performance of the business over a particular period of time. Here iS how it shouldlook: Irading. and Protit andLoss Account Protorma E Sales XXX less: Cost of Goods Sold XXX Gross Profit XXX less: Indirect Expenses XXX Net Profit E XXX
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