Austin is the sole owner of a small LLC, specializing in manufacturing hand sanitizer. Austin sends you the following income/expenses items a week ago: Income from the business: $1 million Expenses: o Factory: $300k purchased in September of this year. o Machine: $150k purchased in July of this year o Employee salary: $300k (1 full-time factory manager = $50k, 15 part-time contractors, $10k each. In addition, Austin also hires his dad working as a vice-manager at the factory and pays his dad $100k. Through some research, you know that the average salary for that same position is about $45k) o This year is an extremely profitable year for Austin's business. For that reason, Austin decided to host an employee appreciation year-end party to celebrate. Austin believes that he would need to host quite a "kick-ass" party because his annual pays for the employees are quite low. In addition, a fun and special party would be helpful to boost employee morale. Austin decides to rent out a small yacht for a night of 12/30/2022 and host the company party there. Below is the cost of the party: Yacht rental = $30k Food and Drinks served on board at the party = $20k Utilities: $30k