During 2017, Rick and his wife, Sara, had the following items of income and expense to report:

Gross receipts from business	$400,000
Business expenses	525,000
Interest income from bank savings accounts	8,000
Sara's salary	50,000
Long-term capital gain on stock held as an investment	4,000
Itemized deductions (no casualty or theft loss included)	$15,000

a. Assuming that Rick and Sara file a joint return, what is their taxable income (or loss) for 2017?

If required, use the minus sign to indicate a loss.

Adjusted gross income/loss	$
Taxable income/loss	$

b. What is the amount of Rick and Sara's NOL for 2017?

Rick and Sara's NOL for 2017 is $.