After KMT and the Republic of China (ROC) government retreated to Taiwan in 1949, the dynamics of newspaper industry in Taiwan had shifted and entered a new phase. However, because of lack of information and ignorance by the academia, the operating and managing aspects of newspaper have yet been academically examined. The primary study topics of Taiwanese newspaper industry remain focusing on newspaper contents and interactions with political environment. To get the whole picture of Taiwanese newspaper industry in the 1950's, newspaper operation and management are the lost puzzle pieces that need to be added. In business management, financial statements are used to illustrate operating status of a corporation. Among all kinds of financial statements, a profit and loss report is the most useful guide to explain production, sales and profit/loss during a period of time, and further reflects the operating conditions and results. This article adopts these business methods to reconstruct an annual profit and loss report, which would be in compliance with accounting standards of Taiwanese newspapers industry in the 1950's, to restore the original picture of operating and managing newspapers in Taiwan at that time. By organizing accounting records, such as circulation volume, advertising revenue, reporting/editing costs, printing costs, and company capital, from the 1950's, an annual profit and lose report was created for Taiwanese leading newspapers from the year of 1953. The article then analyzes this report, lays out the dynamics of newspaper operation and management, and also defines historical meanings that each piece of information pinned down, or may have implied. This article wishes to serve as a general beginning point to studying Taiwanese newspaper industry in the 1950's, from the operating and managing perspectives.