I am runing a truck business, i need help interpreting my P&L
I run reports for my 1st quarter
in my P&L i am showing a net income of $30K for the 1st quarter, but I am also paying $60 per quarter against truck loans, that means every month i am paying 420 for trucks that i am leasing to own, i know my assets are increasing with each payment, but also
if i have a net income of $30k in the 1st quarter and if i paid $60 in the 1st quarter that are actually increasing my assets
does this mean that i took $30 extra from my saving to cover/increase my assets(I know i tricky)
in other words even i made a net profit of $30k, for me to be able to increase my major assets i had to take $30 from my savings + $30 net profit to increase my assets in $60K
my question, am i making money?????
or maybe an misinterpreting this.