LO.3 Zack is a farmer who buys his feed and fertilizer from a farmers cooperative. In 2011,

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LO.3 Zack is a farmer who buys his feed and fertilizer from a farmer’s cooperative. In 2011, Zack purchased $300,000 in feed and fertilizer for the farm and $10,000 of household goods. Because the cooperative made a profit in 2011, it distributed to its members 2% of their purchases. Zack received his share of the distribution, $6,200, in March 2012. What is Zack’s gross income from the distribution?

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