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Dana, runs an illegal gambling joint and here are her expenses and income. Gross income $300,000 Expenses: Rent $30,000 Maintenance $6000 Bribes to police $20,000
Dana, runs an illegal gambling joint and here are her expenses and income.
Gross income $300,000
Expenses:
Rent $30,000
Maintenance $6000
Bribes to police $20,000
Supplies. $4,000
Food and drink costs $15,000
Accounting and legal. $10,000
Fines and penalties. $8,000
Depreciation. $10,000
Calculate her net taxable income from the gambling joint.
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