now need to help Liliana in preparing the Profit and Loss Statement to are to help in calculating the GROSS profit, the TOTAL EXPENSES and the formula: Profit = Total Revenue - Cost of Goods Sold - Total Expenses Chart Of Account ID $ 100 TOTAL REVENUE $1,000,000.00 200 COST OF GOODS $426,200.00 GROSS PROFIT EXPENSES: 101 Accounting fees $11,700.00 104 Electricity $2,700.00 105 Insurance $15,200.00 407 Postage $1,500.00 108 Printing and stationery $8,700.00 501 Rent for premises $74,300.00 502 Vehicle operating costs $21,100.00 506 All other expenses $14,100.00 300 LABOUR $225,000.00 399 Liliana's Salary $102,600.00 Less TOTAL EXPENSES Equals NET PROFIT