Comprehensive Problem (Tax Return Problem). Joha Stantus, single, is the sole owner of Stantus Accounting Services, Co. He started the company, which is organized as a sole proprietorsaip, of the cucrent year. For this year, Stantus Accounting Services reported the following amounts of income and expenses: .John purchased a car on February 1 of the current year for $24,000. He uses the car for both business and personal purposes. Mileage logs indicate that John put 40,000 miles on the car this year. Of that total, 28,000 miles were business related and the remaining 12,000 were related to personal travel. John wants to deduct the maximum amount allowable for business use of his on February 1 0 revenues t, Expenses: Employee wages Payroll taxes Advertising Insurance Ublities Rent (125,000) (9,563) 3,600 (2,400) (7200) (10,000) 5,000 (35,000) Selling expenses include $6,000 spent for meals and entertainment incurred on John's sales calls during the year. Selling expenses also include $12,000 in illegal payments to city officials paid to secure a lucrative contract with the city John was uncomfortable making this payment, but reasoned that the contract was important to get his business off to a good start. . Supplies Selling expenses .Selling expenses also include gasoline, Please calculate John's 2018 taxable income using the 2018 tax code. ItemsAsume that John reports the revenue and drawn over in black sharpie are to be ignored.accounting, and that he has no other taxable parking fees, and other documented auto expenses totaling $2,500 attributable to John's sales calls. expenses of Stantus Accounting Services on Schedule C, that he uses the cash method of income, deductions or credits other than the items listed above. As noted above, he is single, with no dependents. He lives at 105 1st Street in Jackson, Mississippi (zip code 39201). His social security number is 555-33-4444. His business address is 501 19th Street, Jackson, MS 39201. Skipping Schedule SE (on which you would ordinarily calculate the self-employment tax), prepare John's -ndi Tax Return. u may nave to use Z income Comprehensive Problem (Tax Return Problem). Joha Stantus, single, is the sole owner of Stantus Accounting Services, Co. He started the company, which is organized as a sole proprietorsaip, of the cucrent year. For this year, Stantus Accounting Services reported the following amounts of income and expenses: .John purchased a car on February 1 of the current year for $24,000. He uses the car for both business and personal purposes. Mileage logs indicate that John put 40,000 miles on the car this year. Of that total, 28,000 miles were business related and the remaining 12,000 were related to personal travel. John wants to deduct the maximum amount allowable for business use of his on February 1 0 revenues t, Expenses: Employee wages Payroll taxes Advertising Insurance Ublities Rent (125,000) (9,563) 3,600 (2,400) (7200) (10,000) 5,000 (35,000) Selling expenses include $6,000 spent for meals and entertainment incurred on John's sales calls during the year. Selling expenses also include $12,000 in illegal payments to city officials paid to secure a lucrative contract with the city John was uncomfortable making this payment, but reasoned that the contract was important to get his business off to a good start. . Supplies Selling expenses .Selling expenses also include gasoline, Please calculate John's 2018 taxable income using the 2018 tax code. ItemsAsume that John reports the revenue and drawn over in black sharpie are to be ignored.accounting, and that he has no other taxable parking fees, and other documented auto expenses totaling $2,500 attributable to John's sales calls. expenses of Stantus Accounting Services on Schedule C, that he uses the cash method of income, deductions or credits other than the items listed above. As noted above, he is single, with no dependents. He lives at 105 1st Street in Jackson, Mississippi (zip code 39201). His social security number is 555-33-4444. His business address is 501 19th Street, Jackson, MS 39201. Skipping Schedule SE (on which you would ordinarily calculate the self-employment tax), prepare John's -ndi Tax Return. u may nave to use Z income