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When you divide gross margin by net sales, you get the percentage of net sales that isn’t spent on producing the inventory. This percentage is extremely important in evaluating a company’s ability to fund supporting operations, plan growth, and create budgets. The gross margin, sometimes called just margin, also comes into play in a number of metrics that I describe in ssss1 and ssss1.

The next portion of the income statement takes into account the rest of a company’s costs of doing business (other than the costs of goods sold) and is called operating income. Think of it as a way of breaking down the overhead costs associated with all the standard operations without including any infrequent revenues or costs. The overall goal of the operating income is to determine how much money a company is making after taking into consideration all the costs the company incurs during its primary and supporting operations. Here’s what goes into the operating income:

 Selling expense: This includes everything a company spent on selling the products it bought or made, such as advertising, sales wages or commissions, shipping, and the cost of retail outlets. The cost of opening a retail outlet may be a selling expense, or perhaps just the cost of a sales team may be a selling expense — anything at all related or attributed exclusively to the sales process, whether entirely or in part.