James Jones is the owner of a small retail business operated as a sole proprietorship. During 2015, his business recorded the following items of income and expense: Revenue from inventory sales $147,000 Cost of goods sold $33,500 Business license tax 2,400 Rent on retail space 42,000 Supplies 15,000 Wages paid to employees 22,000 Payroll taxes 1,700 Utilities 3,600 a. Compute taxable income attributable to the sole proprietorship by completing Schedule C to be included in Jamess 2015 Form 1040. b. Compute self-employment tax payable on the earnings of Jamess sole proprietor- ship by completing a 2015 Schedule SE, Form 1040.