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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 Cost
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 earnings from self-employment? $11, 300 $10, 900 $14, 400 $11, 400 None of these choices are correct
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