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Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payment constitutes realized income

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Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payment constitutes realized income and determine the amount of each payment Grady must include in his gross income. Note: Leave no answer blank. Enter zero if applicable. Required: a. A gift of $24,400 from Grady's grandfather. b. One thousand shares of GM stock worth $208 per share inherited from Grady's uncle. The uncle purchased the shares for $47 each, and the shares are worth $213 per share at year-end. C-1. A gift of $72,000 of Ford Motor Bonds. c-2. Grady received the bonds on October 31 , and he received $2,160 of semiannual interest from the bonds on December 31 . d. A loan of $6,100 for school expenses from Grady's aunt

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