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Diana and Ryan Workman were married on January 1 of last year. Diana has an eight-year-old son, Jorge, from her previous marriage. Ryan works as
Diana and Ryan Workman were married on January 1 of last year. Diana has an eight-year-old son, Jorge, from her previous marriage. Ryan works as a computer programmer at Datafile Inc. Diana is a full-time student and is not employed. The Workmans reported the following financial information pertaining to their activities during the current year. a. Ryan earned a $96,000 salary for the year. b. Diana received a scholarship of $8,000. She used the $8,000 to cover tuition costs. c. Diana won a $3,000 cash prize at her church-sponsored Bingo game. d. The Workmans received $500 of interest from corporate bonds and $250 of interest from a municipal bond. e. The couple bought 50 shares of ABC Inc. stock for $40 per share on July 2. The stock was worth $47 a share on December 31. f. Diana's father passed away on April 14. She inherited cash of $50,000 from her father and his baseball card collection, valued at $2,000. As the beneficiary of her father's life insurance policy, Diana also received $150,000. g. Ryan received a gift of $1,000 from his brother. Assuming the Workman's file a joint return, what is their gross income for the current year? Numeric Response
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