Ken (birthdate July 1, 1988) and Amy (birthdate July 4, 1990) Booth have brought you the following information reg and withholding for the year. They are unsure which of these items must be used to calculate taxable income. Income: Ken's salary (salesman) $28,500 Amy's wages (part-time nurse) 17,500 Insurance reimbursement for repairs from an auto accident 500 Gift from Uncle George 2,000 Interest income from Lodge State Bank 840 Federal income taxes withheld: From Ken's salary 2,600 From Amy's wages 650 Amy owns and operates a computer bookstore named "The Disk Drive". The store is located at 2000 Broadway Stree During 2019, Amy had the following income and expenses: Sales of books $321,000 Expenses Store rental 16,000 Office expense 6,000 Advertising 11,700 City business license 1,020 Payroll 83,550 Payroll taxes 8,400 Utilities 8,050 Other 3,000 Cost of inventory sold 185,000 Amy treats inventory as non-incidental materials and supplies. This year, Amy loaned a friend $10,000 so that he could make an investment. Instead of making the investment, the gambling and left for parts unknown. Amy has no hope of ever collecting on this bad debt. Ken, who ordinarily never gambles, won $20,000 at a casino birthday party for one of his friends. The Booths provide the sole support for Ken's parents, Rod (Social Security number 124-80-9050) and Mary (Social Booth, who live in their own home. Ken and Amy live at 2345 Wilson Avenue, Menomonie, WI, 54751, and their Soci 75-3456 (Ken) and 123-45-7890 (Amy). Ken and Amy can claim a $500 other dependent credit for each parent. Required: Complete the Booth's Form 1040 and the related schedules and forms provided. Assume the taxpayers had full-year taxpayer wants to contribute to the presidential election campaign. Ken (birthdate July 1, 1988) and Amy (birthdate July 4, 1990) Booth have brought you the following information reg and withholding for the year. They are unsure which of these items must be used to calculate taxable income. Income: Ken's salary (salesman) $28,500 Amy's wages (part-time nurse) 17,500 Insurance reimbursement for repairs from an auto accident 500 Gift from Uncle George 2,000 Interest income from Lodge State Bank 840 Federal income taxes withheld: From Ken's salary 2,600 From Amy's wages 650 Amy owns and operates a computer bookstore named "The Disk Drive". The store is located at 2000 Broadway Stree During 2019, Amy had the following income and expenses: Sales of books $321,000 Expenses Store rental 16,000 Office expense 6,000 Advertising 11,700 City business license 1,020 Payroll 83,550 Payroll taxes 8,400 Utilities 8,050 Other 3,000 Cost of inventory sold 185,000 Amy treats inventory as non-incidental materials and supplies. This year, Amy loaned a friend $10,000 so that he could make an investment. Instead of making the investment, the gambling and left for parts unknown. Amy has no hope of ever collecting on this bad debt. Ken, who ordinarily never gambles, won $20,000 at a casino birthday party for one of his friends. The Booths provide the sole support for Ken's parents, Rod (Social Security number 124-80-9050) and Mary (Social Booth, who live in their own home. Ken and Amy live at 2345 Wilson Avenue, Menomonie, WI, 54751, and their Soci 75-3456 (Ken) and 123-45-7890 (Amy). Ken and Amy can claim a $500 other dependent credit for each parent. Required: Complete the Booth's Form 1040 and the related schedules and forms provided. Assume the taxpayers had full-year taxpayer wants to contribute to the presidential election campaign