ged to this account.

(8) Taxes: The yearly amount of taxes paid should be divided by
twelve, in order to arrive at the monthly proportion to be charged to
this account.

(9) Wages: The amount of wages paid to employees should be charged to
this account. Care should be taken to determine the actual amount for
the month, if wages are paid on a daily or weekly wage rate.

(10) Miscellaneous: Any expenses of the business not listed above will
be charged to this account. This may include such items as donations,
loss on bad accounts, and such like items of expense. You may itemize
these into as many headings as you desire, but for the purposes of the
Daily Exhibit combine all of them under "Miscellaneous Expense."

All these expense items are then added together, and this total is
entered on the line marked "Total Expenses."

Deduct "Total Expenses" from "Gross Profit" to arrive at "Net Profit."

To arrive at the totals for "This Year to Date," carry the figures
forward from the previous month's sheet and add figures for present
month.

The figures for "Last Year to Date" will be found on the sheet for the
corresponding month of last year, and are copied in this column.

All percentages should be figured on sales. The figures shown on each
line in the "Amount" columns under the headings "This Month," "This
Year to Date" and "Last Year to Date" should be divided by the "Month
Total" of the sixth column, shown above, i. e., "Goods Sold, Less
Goods Returned."

When you take inventory, the amount of stock should equal "Merchandise
on Hand," as shown by the Daily Exhibit. But there will generally be a
discrepancy, varying with the size of your stock, and that discrepancy
will represent the amount of goods gone out of your station without
being paid for; sold for cash and not accounted for; sold on credit
and not charged, and the like. It's worth something to know exactly
what this amounts to. The place for this information is under
"Inventory Variations" on the sheet.

The space headed "Accounts Payable" is provided for recording, on the
last day of every month, just what you owe for accounts and for notes,
and also the same information for the corresponding date of last year.

Invaluable Monthly Comparative Information.

You see now that by the use of the Daily Exhibit you have a running
history of your business by days, weeks and months. But this is hardly
sufficient for a clear view of your business, since y