Explain the two approaches to calculating GDP

One approach involves adding up the expenditures on goods and services produced during the year. This figure would be the sum of personal consumption expenditures, government consumption and gross expenditures, gross private domestic investment, and net exports to foreigners. The other approach is calculated by adding up the income payments to resource suppliers and the other costs of producing those goods and services. Specifically, this method would sum employee compensation, proprietors' income, interest, rents, corporate profits, indirect business taxes, cost of depreciation, and the net income of foreigners.