CACAO CULTURE IN THE PHILIPPINES. 23 



Fourth year. 

 Capital account Continued. 



Interest on investment 1 $200.00 



Depreciation asabove 150.00 



Building of drying house and sweat boxes, capacity 



20,000 kilos_ _ 450.00 



$800. 00 



Total capital investment 3500.00 



Fifth year. 

 Income account: 



From 11,680 cacao trees, 300 grams cacao each, equals 



3,500 kilos, at 48 cents 1,680.00 



Expense account: 



Fixed interest and depreciation charges on investment of 



$3,500.00 $350.00 



Taxes l\ per cent on a one-third valuation basis of $250 



per hectare 60. 00 



Cultivating, pruning, etc., at $5.50 per hectare . 88. 00 



Fertilizing, at $6 per hectare 96.00 



Harvesting, curing, packing 3,500 kilos cacao, at 10 cents 



perkilo 350.00 



Contingent 86.00 



1,030.00 



Credit balance __ 650. 00 



Hivth year. 

 Income account: 



From 11,680 cacao trees, at 500 grams cacao each, equals 



5,840 kilos, at 48 cents 2, 803. 20 



Expense account: 



Fixed interest and depreciation charges as above $350. 00 



Taxes as above 60.00 



Cultivating, etc., as above 88. 00 



Fertilizing, at $8 per hectare 128. 00 



Harvesting, etc., 5,840 kilos cacao, at 10 cents per kilo__ 584. 00 



Contingent 93.20 



1,303.20 



Credit balance 1,500.00 



Seventh year. 

 Income account: 



From 11,680 cacao trees, at 750 grams cacao each, equals 



8, 760 kilos, at 48 cents- _ 4, 204. 80 



Expense account: 



Fixed interest charges as above $350. 00 



Taxes as above 60. 00 



Cultivating, etc., asabove 88.00 



Fertilizing, at $10 per hectare.- 160. 00 



Harvest, etc., of 8,760 kilos of cacao, at 10 cents per kilo. 876. 00 

 Contingent 170.80 



1, 704. 80 



Credit balance __ 2,500.00 



