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Darby Enterprises, the sole proprietorship of Jeson Darby, has just completed their most successful year ever! The company had revenues of $ 9 2 5
Darby Enterprises, the sole proprietorship of Jeson Darby, has just completed their most successful year ever! The company had revenues of $ and General and Admin expenses of $ Jason does all of their bookkeeping and wasn't sure about whether some of the following expenditures were deductible or not and a result, he has omitted them in his calculation of net income. He's asked you for help in preparing his X TBusiness Income statement.The list of omitted expenditures include: The Company was forced to pay damages of $ after a client sued them for breach of contract The Company paid property tax of $ which includes an amount of $ that was paid to a regional municipality in which the Company maintains a fishing lodge for Jason. He has never brought clients there but intends to in the future New landscaping at their administration building in the amount of $ all of which was paid in the year The Company experienced a theft by one of its clerical employees totaling $ As a result of increased business expansion, the Cainpany cancelled their lease on November and moved into a bigger location soon afterwards. The lease would have been effective until January X The cancellation fees were $ To celebrate their successful year, Jason declared and paid a bonus of $ to himself and $ to his top employee. Both bonuses were paid on January XRequired: Calculate Jason's net business income. Remember to show all calculations.
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