Instructions: Using the business expense information below, calculate the net loss or net profit based on the concepts you learned.

1	You collected $150,000 in cash for services.
2	You have 10 hours for the last week of December that was not billed to customers at the rate of $100 per hour.
3	The total rent for your office is $4,000 per month.
4	Utilities total $2,800 for the year.
5	You paid a part-time receptionist $8,000 to answer the phone and make appointments.
6	You paid yourself a salary of $30,000 for the year.
7	Your total costs for office supplies, such as pens, paper, etc., totaled $1,000 for the year.
8	You decide that the education system is lagging in your city, and you donate $300 to your local high school.
9	You purchased 100 books for $5 each and you sold 50 of them for $15 each.
10	The total miles on your automobile for the year equal 7,000 miles of which 2,000 miles were for business purposes. Assume the mileage rate is .575 cents per mile.
11	Depreciation expense on office furniture is $300 for the year.
12	You paid $2,000 for personal health insurance for the year.
13	You take prospective clients out to lunch to discuss services. Your cost for meals for the year is $800.
14	Your advertising costs total $300 for the year.

10.1.1