Transcribe Baker, A. B. Letter to Ward, Henry A. (1881-04-21)

Dear Prof. Ward,

Enclosed is statement for three months ending April 1. Amount of sales was $3,890.- cash received (exclusive of office) $3,420.- expenses exceeded this last amount by $280., giving a loss in chase of $280. Stock increased $655. Bills receivable $470. and Bills payable decreased $355. giving gross profit of $1,480., and leaving net profit of $1,200. We added to Jan. 1. inventory the total amount of wages, and increase of stock by purchases of specimens and material. From this result we subtracted the amount of decrease by specimens sold (at inventory value). [line in pencil saying "which goes inventory for April 1] Of course many specimens (Elephant for example) have increased in value much more than we have allowed in adding the mere cost of work put on them, so that the real profit