Charlie was hired by Ajax this year as a corporate executive and a member of the board of directors. During the current year, Charlie received the following payments or benefits paid on his behalf.

Salary payments	$	123,500
Contributions to qualified pension plan		10,600
Qualified health insurance premiums		10,850
Year-end bonus		21,500
Annual directors fee		15,700
Group-term life insurance premiums (face = $40,000)		1,195
Whole life insurance premiums (face = $100,000)		2,130
Disability insurance premiums (no special elections) 5230 1) Charlie uses the cash method and calendar year for tax purposes. Calculate Charlies gross income for the current year. 2) Assume that in lieu of a year-end bonus Ajax transferred 1,380 shares of Bell stock to Charlie as compensation. Further assume that the stock was listed at $29 per share and Charlie would sell the shares by year-end, at which time he expected the price to be $32 per share. Calculate the value of compensation Charlie would report and gain on the sale that would be included in Charlie's gross income. a) value of compensation?___ b) Gain on sale?___ 3) Suppose that in lieu of a year-end bonus Ajax made Charlies house payments (a total of $27,500). Calculate the value of the house payments Charlie would report as income?______