I've been getting into trading, and I'm a bit confused about calculating my profit and loss when using leverage. I know leverage can amplify both gains and losses, but I’m not sure how to factor it into my PnL calculations. When you’re using a margin account, how do you determine what your actual profit or loss is after accounting for leverage?

For example, if I invested a certain amount using leverage and made a profit, how do I figure out my real earnings versus what I owe back? Do you guys use any specific formulas or tools, or is it mostly just mental math? Any tips or experiences would be super helpful!