On July 7, 2007, Dr. Jennifer Dejong established Second Opinion, a medical practice organized as a proprietorship. The following conversation occurred the following January between Dr. Dejong and a former medical school classmate, Dr. James Tomlin, at an American Medical Association convention in Paris.

Dr.

Tomlin:

Jennifer, good to see you again. Why didn’t you call when you were in

   

Chicago? We could have had dinner together.

Dr.

Dejong:

Actually, I never made it to Chicago this year. My husband and kids went up

   

to our Aspen condo twice, but I got stuck in Boston. I opened a new consulting practice

   

this July and haven’t had any time for myself since.

Dr.

Tomlin:

I heard about it . . . Second . . . something . . . right?

Dr.

Dejong:

Yes, Second Opinion. My husband chose the name.

Dr.

Tomlin:

I’ve thought about doing something like that. Are you making any money? I

   

mean, is it worth your time?

Dr.

Dejong:

You wouldn’t believe it. I started by opening a bank account with $50,000,

   

and my December bank statement has a balance of $140,000. Not bad for six

   

months—all pure profit.

Dr.

Tomlin:

Maybe I’ll try it in Chicago! Let’s have breakfast together tomorrow and you

   

can fill me in on the details.

Comment on Dr. Dejong’s statement that the difference between the opening bank balance ($50,000) and the December statement balance ($140,000) is pure profit.