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From the records of Tom, a cash basis sole proprietor, the following information was available: Gross receipts $ 30,000 Dividend income (on personal investments) 200
From the records of Tom, a cash basis sole proprietor, the following information was available:
Gross receipts | $ 30,000 |
Dividend income (on personal investments) | 200 |
Cost of sales | 15,400 |
Other operating expenses | 3,000 |
State business taxes paid | 300 |
what amount should tom report as net earnigs from self employment
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