MICHIGAN STATE AGRICULTURAL SOCIETY. 731 



We are pleased to state that uniformly courteous treatment and painstaking effort 

 was afforded our representatives during the entire progress of our work. 



Respectfully submitted, 



A. W. EHRMAN & CO., 



Public Accountants. 



EXHIBIT A 



BALANCE SHEET 



As at November 30, 1916 



ASSETS 

 Current : 



Cash on Hand $795 94 



Peoples State Bank 14,966 76 



American Savings Bank 10 . 000 00 



Accounts Receivable (Schedule 1) .- 3 ,249 38 



Suspensions (Schedule 2) 7,910 50 



Investments 50 00 



$36,972 58 



Fixed: 



Land (Schedule 3) $287,510 78 



Buildings (Schedule 3) 352 , 169 70 



Equipment (Schedule 3) 33 , 948 08 



— ■ 673,628 56 



Inventory: 



Lumber, etc 728 97 



Prepaid Charges: 



Bond Expense Prepaid 1 , 273 88 



$712,603 99 



LIABILITIES 

 Current : 



Accounts Payable (Schedule 4) $3 , 028 92 



Sundry Accrued Items 281 00 



Accrued Interest on Bonds 1 , 300 00 



$4,609 92 



Deposits on 19i7 Contracts (Schedule 6) $550 00 



Reserve for Lease Race Track 7 , 290 16 



7,840 16 



Mortgage Bonds: 



First Mortgage Bonds Authorized and sold $200,000 00 



Less: Bonds Redeemed 25,000 00 



First Mortgage Bonds Outstanding $175,000 00 



Second Mortgage Bonds Authorized $210,000 00 



Less: Bonds Unsold 125 ,000 00 



Second Mortgage Bonds Sold 85 ,000 00 



Total Bonds Outstanding 260,000 00 



Surplus— November 30, 1915 $398,685 83 



Less: Adjustments 853 60 



$397 832 23 



Add: Net Profit December 1, 1915, to November 30, 1916 (Exhibit B) . . 42;32T 68 



■ 440,153 91 



$712,603 99 



EXHIBIT B 



STATEMENT OF REVENUES AND EXPENSES 



December 1, 1915, to November 30, 1916 



REVENUES 

 Admissions: 



General Day Admission $68 , 249 05 



General Night Admission 2,696 66 



Exhibitors' Tickets 1 ,398 00 



Membership Tickets 176 00 



Automobile 3 , 180 50 



$75,700 21 



