What are the theories of profits in economics?

Question

My Assignment: make notes on profits and theories of profits.

I haven't found any theories though.

Answer 1

1) Gross Profit ie., Sales (-) Mfg/Trading Expenses

2)Net Profit ie., - Gross Profit (-) All admn/office expenses

3) Profit before tax - PBIT - Profit before income tax

4) PAT - Profit after Tax

5) Profit before income tax & Depreciation

Answer 2

The different theories of profit are based on :

1. Uncertainty & Risk: the reward for taking risk

2. The reward for organizaing enterproses and entrepreneurship

3. The reward for generating surplus after paying all the factors of production from Groass Value added.