Jeff Mason, Commercial Loan Agent with First Federal Savings Bank of Washington was our guest speaker on Thursday, October 8th. Mr. Mason covered the elements of a basic profit & loss statement. The students have the financial portion of their individual business plans due after fall break. This was a great opportunity for Mr. Mason to explain the basic parts of that P&L Statement: Sales, Cost of Goods Sold, Gross Profit/Margin, Operating Expenses and Net Profit.

Mason encouraged students to use money as a tool and to "borrow as little money as possible and pay it back as fast as possible." He emphasized that the most important line on the P&L statement was the bottom line or Net Profit.

Thank you Mr. Jeff Mason for your expertise.