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choice but to accept it as the proprietor's salary. It should therefore be added to expenses before we proceed further in an analysis of the business. Expenses, therefore, must be set down as $2927.21.

Sales for the year are $9183.31, cost of goods sold $5599.54, and gross profit $3583.77.

Subtracting the $2927.21, expenses, from the gross profits, we get a net profit of $656.56.

We find the percentage of gross profit to be 39; of expense, 32; of net profit, 7.

A NORTH CAROLINA STATEMENT. Gross profit, in percentage, is 38.7, the percentage of expense is 25.5, and the net profit is 13.2 per cent.

The manager of this store is a close student

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Frank Royal Purcell, Jr., five months old, son of F. R. Two other sons of F. R. Purcell, Marlow, Oklahoma, doing Purcell, proprietor of Purcell Drug Company's store, Marlow, their best to get on the outside of a large, juicy melon-and Oklahoma.

succeeding, too! Druggists' Children.

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