To create this search please follow the steps below:
1) Navigate to Reports > New Search > Transaction
2) Under Criteria tab:
— Add Type is Sales Order
— Add Main Line is False
3) Under Results tab:
— Add Sales Rep — Summary Type is Group
— Add Number (this is the SO number) — Summary Type is Group
— Add Amount — Summary Type is Sum
— Add Item
— Add Quantity
— Add Item Fields…Purchase Price (this is the cost of the item)– Summary Type is Sum — Label is Cost
— Add Formula (Numeric) = {quantity}*{item.cost} — Summary Type is Sum — Label is Total Cost
— Add Formula (Numeric) = {amount}-({quantity}*{item.cost}) — Summary Type is Sum — Label is Profit
4) Create Saved Search
5) Rename Search
6) Click Save & Run