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district sales manager, worldwide manager, national accounts
manager, product manager, national sales manager, and key account
executive. He developed business plans, annual budgets, annual
sales forecasts, and 5-year forecasts, and plans for introducing
and marketing new products. Mr. Strickland retired from Dow
Elanco on December 31, 1998.
4. Petitioners’ Income From Sources Other Than Their Horse
and Farm Activity
Petitioner received wages or other compensation from Eli
Lilly and Mr. Strickland received wages from Dow Elanco and Eli
Lilly from 1992 to 1996 as follows:
Year Mr. Strickland Petitioner Total
1992 $114,599 $42,378 $156,977
1993 125,947 94,483 220,430
1994 137,447 5,944 143,391
1995 200,882 5,094 205,976
1996 127,133 127,133
Petitioners had other income as follows in those years:
Year Dividends Interest Rent Total
1992 $6,659 $2,142 $250 $9,051
1993 7,178 1,863 441 9,482
1994 7,429 2,484 9,913
1995 8,372 3,205 1,396 12,973
1996 7,626 1,836 9,462
B. Petitioners’ Farm
Petitioner bought a farm in 1972 because she wanted to raise
and train horses. Petitioner paid the following for land:
Cost
Land Purchase date Cost per acre
30 acres July 20, 1972 $15,000 $500
20 acres July 17, 1978 16,000 800
20 acres April 1, 1980 20,000 1,000
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Last modified: May 25, 2011