1. Charlie was hired by Ajax this year as a corporate executive and a member of the board of directors. During the current year, Charlie received the following payments or benefits paid on his behalf.

Salary payments	$	128,500
Contributions to qualified pension plan		17,100
Qualified health insurance premiums		7,700
Year-end bonus		16,300
Annual directors fee		13,300
Group-term life insurance premiums (face = $40,000)		1,240
Whole life insurance premiums (face = $100,000)		2,030
Disability insurance premiums (no special elections)		4,780

a. Charlie uses the cash method and calendar year for tax purposes. Calculate Charlies gross income for the current year.

Gross income ___?__

d. Assume that in lieu of a year-end bonus Ajax transferred 650 shares of Bell stock to Charlie as compensation. Further assume that the stock was listed at $116 per share and Charlie would sell the shares by year-end, at which time he expected the price to be $119 per share. What would be the value of compensation and gain on sale which would be included in Charlies gross income?

Value of compensation __?__

Gain on sale __?__

e. Suppose that in lieu of a year-end bonus Ajax made Charlies house payments (a total of $31,100). What would be the value of house payments which would be included in Charlies gross income?

Income __?__