## Notes - *Profit and Loss Sheet* - Shows *revenues*, *costs*, and *expenses* - *Balance Sheet* - Shows *assets* and *liabilities* - "Business medical chart" - *Profit* - What I sold (*revenue*) minus *costs* (of production, *expenses*) - *Gross Profit* - *Revenue* minus *cost of product* - *Operating Profit* - *Revenue* minus all operating expenses (*payroll*, *utilities*, etc) - *Cash Flow* - Money coming in minus money coming out - *Cash Flow Statement* - *Cash Flow* over time - *EBITDA* - Earnings Before Interest, Taxes, Depreciation, and Amortization - *Arbitrage* - Description of market's inefficiencies - *Leverage* - Other people's money, aka debt