Teresa owns a condominium in Florida. During the current year, she incurs the following expenses related to the property:

Prepare a spreadsheet calculating Teresa’s rental income or loss for each of the following cases. The spreadsheet should be prepared so that it will calculate the rental income or loss by changing the number of rental and personal days.

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Mortgage interest Property taxes $10,200 1,500 Utilities 800 Maintenance fees 1,000 Repairs 600 Depreciation (unallocated) 5,000