wyccc logo color 11apr14 horz

Understanding Your Profit and Loss Statement: A Step-by-Step Guide

Chamber News, Uncategorized

Understanding Your Profit and Loss Statement: A Step-by-Step Guide


Welcome! This week’s feature will focus on empowering our local business owners with practical financial knowledge. Today, we’re diving into a crucial tool for any business owner: the Profit and Loss Statement (P&L). This financial document, also known as an income statement, provides a clear snapshot of your business’s financial performance over a specific period. Let’s break it down step-by-step to understand how to read it effectively.


Step 1: Recognize the Components

A typical P&L statement is divided into several key components:

  • Revenue: This section lists the total income generated from your business activities, including sales of products or services before any expenses are deducted.
  • Cost of Goods Sold (COGS): Direct costs attributable to the production of the goods sold in your company. This includes materials and labor costs directly tied to service delivery or product creation.
  • Gross Profit: Calculated by subtracting COGS from Revenue. This figure tells you how much money is left to cover all other expenses after covering the cost of sales.


Step 2: Analyze Operating Expenses

Operating expenses are the costs associated with running your business that are not directly linked to the creation of your product or service. These can include:

  • Salaries and wages: Payments to employees.
  • Rent: Cost of property used for business operations.
  • Utilities: Electricity, water, internet, and other necessary services.
  • Marketing and advertising: Costs to promote your business. Summing these expenses gives you the total operating expenses.


Step 3: Calculate Net Operating Income

Subtract the total operating expenses from the gross profit to determine your Net Operating Income (NOI). This number highlights the profitability of your business operations without considering other income sources, taxes, and additional expenses.


Step 4: Consider Other Income and Expenses

This section includes revenues and costs not directly tied to regular business operations, such as:

  • Interest income: Money earned from bank deposits.
  • Rental income: If you rent out part of your business space.
  • Interest expense: Cost of borrowed funds. Adding or subtracting these will adjust your NOI to show your earnings before taxes.


Step 5: Deduct Taxes to Find Net Income

Finally, subtract any taxes owed from the earnings before taxes to arrive at your Net Income. This is the bottom line that tells you the actual profitability of your business after all expenses and taxes.


Step 6: Review and Compare

Now that you have your net income, compare it with previous periods to identify trends, patterns, or areas needing attention. Are your operating expenses creeping up? Is your gross profit margin improving? These insights can help guide your business decisions.



Understanding your Profit and Loss Statement is essential for making informed financial decisions and steering your business towards greater profitability. Regular reviews will help you recognize financial trends, manage expenses, and highlight opportunities for growth.


I hope this guide has been helpful. If you have questions or need further assistance understanding your P&L statement, consider reaching out to a financial advisor, accountant, bookkeeper, or i-Balanced. Remember, staying informed is key to business success!

Read More →

YOU Leadership

Chamber News, Member News, Uncategorized

The Wyoming County Chamber of Commerce proudly sponsors the Youth Opportunities Uncovered (YOU) program.

Twenty four students from Tunkhannock Area School District are participating in this inaugural year of YOU leadership training. These juniors and seniors were identified by Tunkhannock Area School District faculty to be emerging leaders in our County and will take part in this five-session yearlong program.

Susan Elias, school counselor at Tunkhannock Area High School, was inspired by her journey with Leadership Northeast last school year. As part of the Impact Program for Educators, Susan became interested in leadership. Susan noted that though our local students have always been included in applying for junior leadership opportunities through neighboring counties at Leadership Lackawanna and Leadership Northeast, transportation is always an obstacle. After meeting with Gina Suydam, the Chamber’s president, Gina revealed that creating and sustaining a teen leadership program was always a dream of the Chamber’s. Susan and Gina teamed up to write a teen leadership program proposal. Paul Dougherty, superintendent of Tunkhannock Area School District, encourages the partnership between the District and Chamber to benefit our county’s students as future leaders.

Thirty Chamber businesses are lending their financial support to the YOU program. In addition, the success of YOU is based on the cooperation between the Chamber and the Tunkhannock Area School District, as well as the eagerness of business leaders in the County to host sessions and to dedicate their time and talents to facilitate activities with the students.
Our first session was held on September 28th at Patriots Cove, a veteran’s refuge in Noxen, PA. The students learned about their leadership styles and communication preferences in an exercise conducted with Nicolette Morgan of Lackawanna College. Gina Suydam led a discussion on gratitude in leadership. Jeff Swire guided the students through The Cove and discussed his time in military leadership. Susan Elias told the students of her leadership journey, and finally, Jessica Cronauer, Executive Director of Leadership Northeast, presented an exercise in servant leadership.
The remaining four YOU leadership sessions are spread across the school year. They will culminate in April when the junior leaders and the Chamber’s core leadership team meet, connect, and set up a mentorship network. The Chamber is excited to empower our next generation of community leaders to make their IMPACT.

Read More →

Keystone College Business Accreditation



Four Keystone College business programs have been reaccredited by the International Accreditation Council for Business Education (IACBE), recognizing them as among the world’s best in business education.

The Keystone programs reaccredited by the IACBE are the college’s bachelor’s programs in accounting, business administration, sport and recreation management, and the associate of science program in business administration. The programs were originally accredited by the IACBE in 2014.     

“The (Keystone College) Division of Business, Management, and Technology at Keystone College has demonstrated compliance of its business program(s) with the IACBE Accreditation Principles through a rigorous process of self-evaluation and independent peer review. In addition, the Division of Business, Management, and Technology has demonstrated a commitment to continuous improvement, excellence in business education, and advancing academic quality in its business programs and operations,” the IACBE stated.

With its headquarters in Overland Park Kansas, the IACBE was founded in 1997 and is nationally-recognized by the Council for Higher Education Accreditation (CHEA). The IACBE is the leader in mission-driven and outcomes-based programmatic accreditation in business and business-related education for colleges, universities, and other higher education institutions whose primary purpose is excellence in teaching and learning. The IACBE has hundreds of member institutions with campuses worldwide and has accredited thousands of business and business-related programs in the United States, Europe, Asia, Africa, the Middle East, Central America, and South America.

Keystone’s Business, Management, and Technology Department prepares students for success through excellence in academics and  hands-on-learning with faculty and industry leaders.

“Keystone College is honored to gain reaccreditation by the International Accreditation Council for Business Education,” said Patricia Davis, Ph.D., professor of accounting and program director of Keystone’s accounting, business, hospitality, and supply chain management programs. “This recognition is the direct result of the excellence and dedication of our talented faculty and students. We are proud to offer business programs at Keystone that are second to none. Our successful alumni working at the top levels of their respective professions are absolute proof of that fact.”


Recognized as one of the best educational values in Northeastern Pennsylvania, Keystone offers more than 50 undergraduate and graduate degree options in liberal arts and science-based programs in business, communications, education, natural science, environmental science, and social sciences. Located 15 minutes from Scranton, Pa. and two hours from New York City and Philadelphia, Keystone is known for small class sizes and individual attention focused on student success through internships, research, and community involvement.

Read More →

Vosburg Neck State Park


Couple’s Dedication to Howland Preserve Leads to New State Park for County

The process of opening the Howland Preserve to the public in 2006, maintaining and enhancing the property, and bringing it to its present status as Vosburg Neck State Park was anything but easy. Many entities and individuals forged lasting partnerships with the North Branch Land Trust (NBLT) to whom the property was bequeathed in 2003. And many people in attendance at the Sept. 29 dedication event had personal connections to the property. But no two people have poured as much of themselves into the project than Doug and Ali Wilson.

In 2013, the couple was paddling down the North Branch Susquehanna with river guide David Buck of Endless Mountains Outfitters when they and the rest of their sojourn crew pulled into a basic river access point at the Howland Preserve. It was the first time that the Wilsons had come off the river there, and the towering pines that lined a pathway to the old Howland homestead, the large barn and its companion farmhouse intrigued them.

But trash left behind by previous visitors was plentiful, and there were trees growing out of the eaves of the house, which showed other signs of neglect. “It was clear that things weren’t being taken care of,” Ali remembers. “It did not feel like it had been a happy place for years.”

Dave Buck explained to them that the Howland Preserve had been donated to the NBLT to be accessible to the public for recreation. Benefactor Ernie Howland and his closest friends had envisioned the 669 mostly forested acres as a public park.

“Dave said, ‘This place needs to become something, but we need someone young to help us out,’” Ali related. The NBLT board members were mostly older, they learned, and more inclined to administrative duties than the type of infrastructure and maintenance that the Preserve needed. “They had the vision but not the energy.”

The Wilsons had been married since 2009 and were both teaching in the Tunkhannock School District – Doug in graphics arts and animation at the high school and Ali as an arts instructor at the intermediate center. As if they weren’t busy enough, something about the property called to them, even though it also spoke of an enormous amount of work. A series of tenants had all but destroyed the interior of the house, and the barn was open to the elements.

“As a little girl, I rode by here going to Camp Lackawanna and saw how Marion (Howland – Ernie’s mother) took care of it and how beautiful it was,” said Ali. “We saw a glimpse of hope that it could become something that could be given back to the community.” As for the house, “We saw the potential of a park ranger living there – not necessarily us.”   

While they continued to reside at Lake Winola, they began working on the Vosburg Neck property with the permission of the NBLT board. They formed the Friends of the Howland Preserve with a new Facebook page and began attracting others to the historic property. The Friends group officially became a non-profit in 2016 at the encouragement of the NBLT.

While enlisting friends who had the most experience with plumbing and carpentry to concentrate on the house, “the barn started going through some fluffing too,” Doug explained. For many years, lumber had been stored in the rafters, and it had to go. Not surprisingly, there were also layers of bird waste.

A close friend of the Wilsons was looking for someplace rustic where he and his fiancee could get married. As a trade off for using the barn, the friend and his friends conducted the first massive clean-out of the once stately building. As there was no seed money for the project, bartering work for use of the facilities became a common practice that is still in place today.

The Big Red Barn, as it is now affectionately called, proved popular as a venue but needed to be brought up to code. Maps and plans needed to be drawn up and submitted. A parking area was designated, and new doors were hung. The process was arduous but was completed in 2015 with support from organizations like the Endless Mountains Heritage Region (EMHR).

“Once we got boots on the ground down here, it became apparent that anything we could do would be our legacy work,” Doug stated, “Even if it was just five miles of mountain bike trails.”

Establishing and maintaining trails through the wetlands and up the hillside away from the river was another facet of the project that succeeded with outside support, including the Endless Mountains Visitors Bureau (EMVB), which provided funding for trail signage that matched that of neighboring Camp Lackawanna. The EMVB has also helped fund the promotion of the annual Rocking the River event with Room Tax grants. The focus of Rocking the River has shifted to the trails with a Howland Preserve Trail Race that has been spearheaded and co-planned by board member and avid runner, Ben Robinson.

High school students and Boy Scouts pitched in too. By 2016, the combined 1,000 acres of the camp and the Preserve boasted trails for hiking and mountain biking, and the Susquehanna River that wraps around the Vosburg Neck had been named a vital component of the National Parks Water Trail system.

Completed in 2018, the exterior of the house was painted a warm yellow hue and enough of the building had been restored that Doug and Ali moved in and became the property’s unofficial managers – literally a second full-time job for the couple. Mowing alone takes Doug eight hours per week. Trail maintenance is never ending, as are improvements to the barn, which has been host to numerous weddings, class reunions and public events that benefit the Howland Preserve.

The Wilsons credit former NBLT executive director Paul Lumia for suggesting to the state that the DCNR take over the property and make it a state park, leading to the first serious visit by state officials in 2013. They visited again after Sen. Lisa Baker pushed for a feasibility study as part of the 2016 state budget.

The fact that so much work had been done to structures and trails and that a very strong Friends group was already attracting new visitors to the property helped increased the viability of the proposal. But the cost, estimated at $12- to $13-million, brought the plans to a screeching halt.

“They were interested but didn’t have the funds,” said Ali. “A lot of balloons were deflated. Even some DCNR officials told us to let it go and that it was never going to happen.” But the Wilsons did not lose heart, as the Howland Preserve had become home for them and their son, Huxley. “I think we brought a good vibe to it,” Ali suggested.

Things began to change rapidly at the beginning of 2022. The value of natural gas began to skyrocket at the onset of the Russian invasion of the Ukraine, and updated court interpretations of the Oil & Gas Lease Fund started in 1955 made it clear that the money collected through the leasing of state lands for gas production should go right back to providing natural recreation for the citizens of Pennsylvania.

“Those funds are dedicated to conservation, recreation, flood control, and land acquisition,” DCNR deputy secretary John Norbeck explained. He, DCNR secretary Cindy Dunn and Baker began having regular meetings with Gov. Tom Wolf, who was on their side from the start.

Recently appointed NBLT executive director Ellen Ferretti called the Wilsons in February and put them on alert. As Ali recalled, “She said something like, “I need you to be aware that talks have started to make Howland Preserve a state park. It’s a long shot but it could happen.’” Subsequent communication with the NBLT and DCNR seemed promising.

“The stars aligned with the state budget,” Baker noted in her address to project partners and supporters at the dedication event. In fact, $56,000,000 was set aside as part of Wolf’s overall $700,000,000 environmental budget toward the creation of not just one, but three new state parks, the other two being in York and Chester counties.

“While I only started at North Branch Land Trust in mid-November of 2021, I have come to know Ali and Doug as hard working and dedicated advocates for the vitality and well-being of the natural resources and habitat so abundant at the Howland Preserve,” Ferretti offered. “It has been and continues to be our pleasure to work with them as we transition to being part of the magnificent PA DCNR state park system.”

The future of the Wilson’s and Vosburg State Park is uncertain, but they are no less excited about the elevated status of the Preserve. The State is continuing their lease for now to assist with the transformation as new Park Ranger Nick Sulzer and staff move into another large house on the property.

“Doug and Ali, along with the rest of the Friends of the Howland Preserve have been vital in providing information and history on the Howland Preserve. They will continue to be an integral part of the planning process,” Sulzer stated in an email. “DCNR values its partnerships with stakeholders and volunteer groups that provide the added support to keep our parks clean, safe, and enjoyable. After the transition of the park is complete, our hope is that the Friends group will continue to support the park and its visitors with their volunteer services.”

A site plan is underway with improvements to parking areas and the installation of restrooms at the top of the list. Trails will likely be expanded and the river access improved and possibly even paralleled with a motorized watercraft access point.

The changes are welcomed by the Wilsons as well. Most importantly, they will get a much-deserved break from many of their maintenance duties. “We’re definitely staying on to help with the transition and as Friends of Vosburg Neck State Park,” Ali maintained.

“Ali and Doug have been amazing stewards of the Howland Preserve,” said Jean Ruhf of the EMVB. “It’s wonderful to know that they will continue to be involved with the new State Park.”

Cain Chamberlin of the EMHR echoed her sentiments, calling the Wilson’s efforts “nothing short of awe-inspiring” and exemplary of what the EMHR looks for in heritage partners. “We look forward to continuing our partnership with them through educational programming, events and projects that will showcase and enhance the new park,” he stated. 

That’s music to the Wilsons’ ears, the teachers in them looking forward to the addition of a ranger station, welcome center and interpretive displays. “We’re going to be able to focus on other projects,” said Doug. “They still want us to run events and educational programs.”

The park will start playing a larger role in the curriculum for area school students, who will be invited to participate in a variety of initiatives.

“We are so excited to be working with the state,” Ali added. “They have been so welcoming and willing to work with us.”  

– Written by Rick Hiduk

Read More →

Bartron Supply Inc. – Generational Success


Family, farmers, and friends are the foundation on which Stark & Jennie Bartron built Bartron Supply. Founded in 1948, the business sought to support the local farming community. Stark Sr. was fond of a particular green tractor on his farm – the John Deere. With high hopes, Stark Sr. asked Jennie to write a letter to John Deere expressing his interest in a dealership. The letter was approved, and Bartron Supply became the first John Deere Dealer in Northeast Pennsylvania.

Over the years, the Bartron family and the business grew. They expanded their product lines to include Husqvarna, Honda power equipment, and Bobcat’s compact construction equipment line. Bartron Supply became a staple name to the people of Wyoming County, from farmers to operators to homeowners. In 1980, Stark Sr. stepped down as CEO as they welcomed his son, Stark Bartron II, as the company’s new owner. And in 2014, after almost 35 years, Stark II handed down the business to his son, Stark Bartron III, and daughter, Bekah Frisco. And under this new duo, Bartron Supply saw growth unlike ever before.


In 2018, Bobcat approached the Bartron family with an opportunity for expansion. Having found great success in Tunkhannock with Bobcat’s equipment line, they knew this was the next step in growing with the company. By June 2019, they had opened their first extension, Bobcat of Binghamton, in Binghamton, New York. Continuing their expansion, they set their eyes on Honesdale, opening store number three in March of 2020 – Bobcat of Wayne County. And this fall, Bobcat of Wayne County will be moving into its brand-new dealership, currently under construction in Waymart.


The journey to today was not always easy. In 1977, a devastating fire tore through the original building. Far from repair, the Bartron’s decided to rebuild, opening the new store less than a year later just across the road. And in 2011, crisis struck again in the form of a flood, leaving Bartron Supply’s showroom under 3-feet of rushing water. Damaged but not destroyed, they cleared the old showroom and added the now-standing 10,000 ft showroom onto the old building. The employees set up temporary trailers to keep the farmers, businesses, and residents up and running during construction. Through all this misfortune, the Bartron family remained resilient. They have a legacy to protect and will keep moving forward.


Next year, Bartron Supply will be celebrating 75 years in business. Success is so much more than the years in business. Bartron Supply measures success in the day-to-day interactions with their customers and the relationships they have cultivated along this journey to 75. None of Bartron Supply’s success would be possible without their hardworking and dedicated team. The Bartron Supply family extends their gratitude and love to the wonderful people of Wyoming County for the generations of customer support!

Read More →

Family-Run Auto Parts Store Builds
Upon 45-Year Reputation


The Mile Hill Auto Parts family of employees includes (from left)
Chris Henry, Tim Henry, Robert Drobish,
Tom Henry, Melissa Stonier, and Seth Johnston.

In 1977, Tom Henry of Tunkhannock decided to build and operate a tire shop on Route 6 just west of town. Before he finished construction of the building, some friends convinced him that what the area really needed was a new auto parts store. With $35,000 in inventory and one employee besides himself, Mile Hill Auto Parts opened to the public and has been at the same location for 45 years.

The Henry’s property stretched to the river and, in the 1980s, a community ballpark opened bearing the NAPA name, the national auto parts supplier with whom Mile Hill has had a successful licensing agreement since the start. Tom built a two story addition in the 1990s as the business continued to grow. When the Tunkhannock bypass was constructed on the south side of town along the river, the property was split, but the ball field and the store remained intact. “It’s sort of an icon,” said Chris Henry, who purchased the business from his uncle in 2021 and officially took ownership on Sept. 1. “It grew in leaps and bounds and it’s been on a fairly steady trajectory ever since.”

Chris moved with his parents, Earl and Shirley Warner Henry, to Florida in the 1960s. Though he remained in the Sunshine State after finishing his education and starting to build his experience in retail sales, he enjoyed trips back to Pennsylvania. “I’ve always wanted to move here,” Chris related. “Even though it wasn’t officially home, it always felt like home.” Chris married Allison Hnatko, whose family was from the Lake Winola area.

With four full-time and two part-time employees, Chris embarked on an expansion of the product lines and the retail side of the business, including Milwaukee auto tools, which have proven popular with customers. He has also enhanced his towing section and the store’s hydraulics line. “We’ve invested in larger-capacity equipment to make bigger hoses because we believe the demand is there,” Chris stated, adding that the need for larger hoses is driven by the natural gas industry, which he had in mind when he added more heavy duty parts for repairing trucks, skids steers, back hoes and the like.

Having sold various commodities over the years, including real estate, Frito Lay products and wholesale groceries for a large Florida-based chain, Chris has seen many sides of the purchasing public and how tastes and expectations are constantly evolving.

He credits the continuing appeal of Mile Hill Auto Parts to both high-quality merchandise and the personality and professionalism that staff members present to the public. “I think it’s still important to the majority of people to patronize a locally owned business,” said Chris. “If somebody’s got a problem with an older vehicle or tractor, they come here.” But not as many people are restoring older vehicles, and there are fewer farmers to serve. The non-DIYers, as he calls them, and many female customers go to the competition in part, he suggested, because they are more visually appealing. Chris feels that a methodical make-over of the store will attract some new customers who will, in turn, experience Mile Hill’s unique brand of customer service.

He installed new lighting in the store and reconfigured the sales space with the addition of more shelving, all of which he considers image boosters.

Chris also hired Melissa Stonier of Tunkhannock to serve as Mile Hill Auto Parts’ first customer relations manager, focusing on both in-store sales and wholesale selling to auto repair shops in the area. Melissa is a popular server at the Tunkhannock Moose Lodge who was out of the work force for several years to have a child. Melissa said that she is enjoying putting her people skills to use as she meets more people in the community and works to meet their auto service needs. “I think there’s a real opportunity for growth for her,” Chris stated. “I feel that she’s gown a lot professionally already in the time that she’s been here.

The staff continues to be a mix of family and family friends and includes Tim Henry, Seth Johnston, and Robert Drobish. While Tom has officially retired, he stops by the store almost daily and still likes to mow the grounds.

Mile Hill Auto Parts has an active Facebook page on which users can find out the latest product additions and bargains. The store is open from 7 am to 5:30 on weekdays and 7 am to 1:30 pm on Saturdays.


Read More →
Skip to content