. essence of management s competence and the sum total (pun intended) of its success. Top managers may be able to hide behind the tintedwindows of stretch limos and armies of flunkies and assistants,but. “Revenue” and “sales” are synonymous. So are “netincome,” “profit,” and “earnings.”✔ Gross profit is sales minus cost of goods sold. Net profit(or net income) is gross profit minus expenses and. come around, unions13 Financial Statements: Who Needs Themanalyze a company’s financial statements to find evidence of poor management, mismanagement, good management, and anythingelse that...