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Complete Schedule C (Form 1040) based on the following scenario: Sophie Dubois (SSN: 117-00-2741) is self-employed as a motivational speaker. The office for her company,

Complete Schedule C (Form 1040) based on the following scenario:

Sophie Dubois (SSN: 117-00-2741) is self-employed as a motivational speaker. The office for her company, Dubois Drives, is located at 3671 Williamsburg Road. At the end of the year, she receives Form 1099-MISCs from the various colleges where she has worked instead of receiving Form W-2s. The total from all the 1099-MISC forms she received is $38,474 for the current tax year. In addition to speaking engagements, Sophie sells DVDs and CDs of her speeches. The income from this is $19,000, received through credit card sales. Sophies expenses include: Advertising $ 1,050 Office supplies $ 235 Personal draw $14,000 Rent $9,000 Electricity $ 924 Travel (hotels) $3,246 Health insurance $ 2,460 Travel (meals) $ 692 Business license $ 120 Travel (airfare) $4,864 Sophie drove a total of 13,545 miles for the year. Included in this total were 721 commuting miles and 4,899 business miles. Sophies car was placed in service on July 16, 2017. This is the only vehicle she owns. She has written proof of her mileage and will use the standard mileage rate.

Answer the following questions based on the Schedule C (Form 1040) completed for Sophie Dubois:

Select the gross income: a) $54,474 b) $57,474 c) $38,474 d) $43,474 9. Select the total expenses: a) $22,455 b) $36,455 c) $22,801 d) $22,841 10. Select the net profit or (loss): a) $34,673 b) $35,019 c) $21,019

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