The divisible income applicable to interest upon indebtedness of all classes, sinking fund, and dividends upon stock of a corporation or business industry for any stated period of time. The method of bookkeeping differs in various corporations, and unless specially noted, so that the investor may not be deceived, such items as taxes and insurance should be deducted before the amount of "net earnings" is derived. It is generally conceded proper to deduct such items and give the "net earnings" as a divisible income as noted above.
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http://chestofbooks.com/finance/investments/Money-Investments/Negotiable-Instrument-Net-Earnings.html
posted by arikanth....july6
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