1. Suppose you are an EA with two clients that come to you for help with figuring out their taxable income. Based on the data below, you must determine the federal taxable income for each client for tax year 2019. 2. Create an Excel document with two tabs: one for each client. 3. Compile your answers within the spreadsheet to show income minus above the line and below the line deductions to arrive at taxable income. Ben and Jamie Newton Client 2 is Ben and Jamie Newton are a married couple that support Ben's parents who are in a nursing home. The parents are 70 years old and their only income is $9,700 social security, $2,500 interest income, and $1,200 dividend income. Ben's annual salary is $46,000, and Jamie's annual salary is $54,000. They have two children that live at home. They have an apartment rental that has net rental income of $6,000, $500 security deposit that was used toward last month's rent, and $550 for rent paid in advance that is due January 2020. Jamie receives stock dividends of $200 from stock she owned prior to marriage. In addition, she received $150 in dividends from a life insurance policy that she owned prior to marriage as well. The couple received $750 in interest income from their savings account and $300 interest from state government bonds. Jamie won $999 for first place from a baking competition.. Ben is a bookkeeper and negotiates with his dentist to do dental worth valued at $1,700 in exchange for $800 worth of bookkeeping services. In addition, Ben did some consulting work outside of his regular employment and received $750 without any taxes taken out. They had $28,000 in itemized deductions.