Small Business Management -- Reports -- Minnesota STATEWIDE

Minnesota Small Business Management Education Programs
Summary by Business Type - 1998 Business Year
Income Statement			Average per business
	Ag, Forest,	Const-	Manuf-	Transp.	Whsale	Retail
SIC Group	Fishing	tion	facturing	Pub. Util.	Trade	Trade	Services
Number of Business in Group	5	13	12	9	3	39	29
INCOME
(A) Business Sales	$722,721	$440,059	$545,550	$321,775	$1,856,217	$473,914	$411,766
Less (B) Cost of Goods Sold	$398,438	$210,549	$294,633	$143,323	$1,636,477	$325,049	$253,313
(C) Gross Profit	$324,284	$229,510	$250,918	$178,452	$219,739	$148,866	$158,453
EXPENSES
Payroll/Taxes/Benefits	$71,907	$37,999	$29,300	$12,393	$87,468	$43,721	$30,932
Contract Labor	$728	$73,968	$8,330	$25,781	$3,015	$4,105	$85,887
Advertising	$4,122	$2,035	$14,743	$1,753	$6,137	$7,282	$3,342
Utilities	$13,938	$3,299	$9,165	$1,609	$17,665	$7,257	$5,028
Insurance	$16,948	$9,675	$8,638	$13,880	$6,941	$5,891	$7,168
Rent/Lease	$1,830	$2,394	$12,512	$3,149	$9,790	$8,514	$4,938
Legal & Accounting Fees	$2,107	$1,133	$3,369	$6,736	$3,022	$1,750	$1,157
Depreciation	$16,130	$19,774	$17,743	$35,061	$11,030	$8,795	$8,054
Fuel/Repairs/Maintenance	$7,651	$15,945	$10,979	$39,879	$19,869	$8,209	$9,372
Real Estate Tax	$656	$111	$226	$2,106	$1,954	$1,733	$1,160
Other Expense	$69,525	$16,353	$47,932	$14,337	$22,117	$21,328	$22,786
(D) Total Expenses	$205,541	$182,685	$162,938	$156,684	$189,009	$118,585	$179,824
(E) Operating Profit	$118,743	$46,825	$87,979	$21,769	$30,730	$30,280	($21,370)
Interest Expense	$12,332	$6,323	$6,083	$11,585	$16,395	$10,127	$4,021
(F) Profit After Interest	$106,411	$40,502	$81,896	$10,183	$14,335	$20,154	($25,391)
Add Other Income	$0	$516	$586	$18,061	$0	$11,665	$1,459
(G) Net Profit Before Tax	$106,411	$41,018	$82,483	$28,244	$14,335	$31,819	($23,932)