Dmit Check my work Although Hank is retired, he is an excellent handyman and often works part-time on small projects for neighbors and friends. Last week his neighbor, Mike, offered to pay Hank $680 for minor repairs to his house. Hank completed the repairs in December of this year. Hank uses the cash method of accounting and is a calendar-year taxpayer. Compute Hank's gross income for this year from each of the following alternative transactions a. Mike paid Hank $272 in cash in December of this year and promised to pay the remaining $408 with interest in three months Hank's gross income for the year ces b. Mike paid Hank $136 in cash in December of this year and gave him a negotiable promissory note (fully transferable to other parties) for $544 due in three months with interest. Hank sold the note in January for $494 Hank's gross income for the year 1 of 8 Next Prev 220 AM 623/20 AD ere to search Check my wor C. Mike gave Hank tickets in December to the big game in January The tickets have a face value of $68 but Hank could sell them for $544. Hank went to the game with his son Hank's gross income for the year Book Print erences d. Mike bought Hank a new set of snow tires. The tires typically sell for $680, but Mike bought them on sale for $612 Hank's gross income for the year Prev 1 of 8 Next> 720 AM ADA 6m raw pe here to search Pric el