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3. Dana, who around the city is generally referred to simply as The Dane, runs an illegal gambling joint. Here are her income and expenses.
3. Dana, who around the city is generally referred to simply as "The Dane", runs an illegal gambling joint. Here are her income and expenses. Calculate her net taxable income from the gambling joint. Gross Income/Sales $300,000 Expenses Rent Maintenance and Cleaning Bribes to police and inspectors Supplies Food and drink costs Accounting and Legal Fines and penalties paid Depreciation $30,000 $6,000 $20,000 $4,000 $15,000 $10,000 $8,000 |$10,000 Page 9 of 10 Words: 2,085 3 150%
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