Company B — a main rival of Company A — reports that its revenue is $66.7 billion, its gross profit is $35.8 billion, and its net income is $6.5 billion during the same period as Company A.

Gross income is your total earnings before any deductions are made. More information on basic pay, overtime and commission can be found in the National 4 Lifeskills Maths section on Income.

Finally, knowing the difference between gross monthly income and net monthly income is key. Your gross monthly income is all the money you actually earn, while your net income is the amount you ...