During 2017, Sharon incurred the following casualty losses (Clack the icon to view the casualty losses. )(Click the icon to view additional information ) Requirement Compute Sharons taxable income for 2017. Sharon is single (Cick the icon to view the 2017 standard deduction and personal and dependency exemption amounts) Complete the first portion of the analysis to determine the net loss on business property. In the tolowing step, complele the analysis to determine the net loss on nonbusiness property. (Enter a loss with a minus sign or parentheses.) Asset FMV Before FMV AfterB BasisInsurance Casualty Gain (Loss) Business 1 23,000 S Business 2 0$ 17,000 $ 9,000 1,000 14,000 24,000 12,0006,000 Business 3 4,000 0 13,000 Net loss on business property 1,000 Personal1 Personal 2 Personal 3 7,000 4,000 10,000 0 18,000 1,000 5,000 0 7,000 11,000 Net loss on personal property Minus: Nondeduc tble floor Net loss on nonbusiness property Now calculate Sharon's taxable income for 2017. (Complete all answer boxes. If no casualty loss is alowed, select the label but enter "0 for the amount) Business income Minus: Business casuality losses Adjusted gross income (AGI) Minus: Itemized deductons Residential interes Property taxes Charitable contributions Personal casualty losses Minus Personal exemption Taxable income During 2017, Sharon incurred the following casualty losses (Clack the icon to view the casualty losses. )(Click the icon to view additional information ) Requirement Compute Sharons taxable income for 2017. Sharon is single (Cick the icon to view the 2017 standard deduction and personal and dependency exemption amounts) Complete the first portion of the analysis to determine the net loss on business property. In the tolowing step, complele the analysis to determine the net loss on nonbusiness property. (Enter a loss with a minus sign or parentheses.) Asset FMV Before FMV AfterB BasisInsurance Casualty Gain (Loss) Business 1 23,000 S Business 2 0$ 17,000 $ 9,000 1,000 14,000 24,000 12,0006,000 Business 3 4,000 0 13,000 Net loss on business property 1,000 Personal1 Personal 2 Personal 3 7,000 4,000 10,000 0 18,000 1,000 5,000 0 7,000 11,000 Net loss on personal property Minus: Nondeduc tble floor Net loss on nonbusiness property Now calculate Sharon's taxable income for 2017. (Complete all answer boxes. If no casualty loss is alowed, select the label but enter "0 for the amount) Business income Minus: Business casuality losses Adjusted gross income (AGI) Minus: Itemized deductons Residential interes Property taxes Charitable contributions Personal casualty losses Minus Personal exemption Taxable income