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PROFITS AND EARNINGS
A NORTH DAKOTA STATEMENT. Here is a man who makes his business year end in March: this statement was drawn not quite a week after St. Patrick's Day.
The statement is made out very nicely until we come to the item of expense. Expenses for the year are stated to be $1365.99, and less than a quarter of an inch below we encounter this entry: "withdrawals for personal account, $1561.22."
We have no way of knowing just exactly what this last entry means, but we have little
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.
Z. E. MARVIN.
ago he established himself in business in Dallas.
Mr. Marvin says he likes Texas so well that he expects to spend the remainder of his days there. And why shouldn't he like Texas? He has been successful from a business standpoint, and has achieved an unusual degree of popularity-as evidenced by his election to the office above mentioned.