Ch. 4 104 Problem 8 distribution business. The following is Jordana's income Jordana is self-employed in the T-shirt statement, for the calendar year ending De car ending December 31. dono Statement of Income For the year ended December 31 $60,000 (10,000) Gross revenue ....... Cost of goods sold ......... 50,000 onon bis 10 no Da bio on 00012 issir Isoitotine bong s bogo b obuloni brat orq lo 003.12 Tomory $2,000 8000 00 3,000 Sagan alam shig brot o 2.000ob Tol 5269 lla 9 os bags of 298119575 hosting 1,000. 000,82 10 50W 139TURTE 8,000 ob 07 marwolls in do buto-SITUS 1,200 S P 01 7,800 Tonitas foto 4.000 hora lo st e s Gross profit ... Expenses: Accounting and legal.. Advertising ....... Golf dues ........ Reasonable estimated bad debt expense .. Business, taxes, and licenses...... Amortization expense 19.... Cycle Safety Program ....... Interest ........... Meals and entertainment Rent and lease Office rent ........ Salaries and wages -- staff ....... 15 o que e samo ir bith isol e onora usiulis, 2,200 sotilor oj biolo wins 01 1,000 ios I Maldsvsq bn och 6,000 (39,000) to DOJ OSO I VIRUS $11.000 1997 dass I risul oldaysa bunu Net income per financial statements .. 10 abr bloa aboos 50 900.08 1 T orsbyrgi SOSOS Nawidgetto te conse 0etat Notes: Jes sid hooks wanitaanottojets arisa 10 H o w To Vino Biang MS 2359 (a) Legal fees include $500 of accrued fees for a pending lawsuit against Jordana for the sale of distasteful T-shirts tecidos forang artsbe 116 28W mysqirt .0103,08 15dmoqda gronormou zinotub o Bitagide ed of botox on nostylist noir 29orig (b) Accounting fees include the purchase of a $1,200 computerized cash register. hove n 000.018998 brunst llo (c) Interest expense includes $3,000 paid to the CRA for late instalment interest. period 107 no no notoni svodis it to 199119 913 wore i 9 150 (d) The Cycle Safety Program cost was for Jordana, who is an active environmentalist and rides her bicycle to work every day. 1012320iq X1 Tol 9monis 9moominos santos1 0 VIE (e) Included in the cost of goods sold is $3,200 incurred for the purchase of shelving and lighting. (e) include ed to Due to the nature of the transaction, the sale of Disney rights were not included in the financial dsvie991 bobul DIOS statements. Jordana actively trades rights for T-shirt Tordana actively trades rights for T-shirt logos. Net proceeds from the sale of the Disney rights were $15,000, and the cost of the logo right d the cost of the logo rights was $6,800. 0 0 you to calculate her income from a business for tax purposes hof for tax purposes, before CCA, for the calendar year ending December 31