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LO.2 Adrian was awarded an academic scholarship to State University for the 20172018 academic year. He received $6,500 in August and $7,200 in December 2017.
LO.2 Adrian was awarded an academic scholarship to State University for the 20172018 academic year. He received $6,500 in August and $7,200 in December 2017. Adrian had enough personal savings to pay all expenses as they came due. Adrian's expenditures for the relevant period were as follows:
| Tuition, August 2017 | $3,700 |
| Tuition, January 2018 | 3,750 |
| Room and board | |
| ?AugustDecember 2017 | 2,800 |
| ?JanuaryMay 2018 | 2,500 |
| Books and educational supplies | |
| ?AugustDecember 2017 | 1,000 |
| ?JanuaryMay 2018 | 1,200 |
Determine the effect on Adrian's gross income for 2017 and 2018.
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