Jack and Jill run "Up the Hill" Enterprises. They are married and file a joint tax return. Up the Hill is a venture dedicated to all aspects of rock climbing. They have inventory, a website, and occasionally provide guided tours. The receipts for Up the Hill for this tax year have been recognized as follows: 1099-MISC 1099-K Direct Payments $17,300 $21,500 $10,150 The expenses for Up the Hill have been identified as follows: Advertising Truck Expenses Commissions Insurance (Biz) Legal Fees Office Expense Site Rentals Travel Other Expenses Small Tools $1,000 $12,000 $1,100 $2,400 $1,800 $9,000 $14,000 $32,700 $6,000 $3,300 Using the information for Up the Hill Enterprises, answer the following: If Up the Hill was started in 2005 and has never made a profit, what is the most likely status of the activity? Choose one answer. a. A business carried on with profit motive b. A hobby c. A corporation X d. A joint venture