23 Not yet answered Marked out of 6.00 Mr Talal owns and operates a firm that manufactures reproduction of antique furniture named Famy furniture. For the year 2020 the following items reflect as revenues and expenses $ Flag question Revenues from the furniture sales Sales returns Expenses: Advertising 200 Accounts written off as uncollectible 800 Salaries to employees 1150 Business license tax 500 Cost of goods sold 99700 Interest on Credit union 300 MACRS depreciation (tax purpose) 600 Depreciation on machinery 250 (Accounting purpose) Payroll taxes 250 Property and liability insurance 600 Rent on workroom 3200 $ 317,300 (21000) Cost of goods sold 99700 Interest on Credit union 300 MACRS depreciation (tax purpose) 600 Depreciation on machinery 250 (Accounting purpose) Payroll taxes 250 Property and liability insurance 600 Rent on workroom 3200 Rent paid to Mr. Talal's house 300 Repairs to tools and equipment 7900 Supplies 8000 Utilities 4000 Wages 3200 Interest paid on Mrs. Talal's loan 500 Expenses on the garments business 100 Calculate the taxable income for Mr. Talal from his Famy furniture