for each of Ral's four employees (the employees' spouses are the beneficiaries) Amortization of cost of acquiring a perpetual dealer's franchise (Ral paid $48,000 for this franchise on July 1, 2013, and is amortizing it over a 48- 6,000 month period) Contribution to a recognized, qualified charity (this contribution was authorized by Ral's board of directors in December 2013, to be paid on January 31, 2014) 75,00 0 On December 1, 2013, Rat received advance rental of $27,000 from a tenant for a three-year lease commencing January 1, 2013 to cover rents for the years 2014, 2015, and 2016. In conformity with GAAP, Flal did not include any part of this rental in its income statement for the year ended December 31, 2013