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Mark for follow up Question 74 of 75. Dawson's Inc. paid the following expenses during 2018 (calendar year entity): Officer's compensation was $75,000, paid to
Mark for follow up Question 74 of 75. Dawson's Inc. paid the following expenses during 2018 (calendar year entity): Officer's compensation was $75,000, paid to Ms. Dawson who devotes 100% of her time to the business. All other salaries were associated with Cost of Goods Sold labor. The company purchased their office building for $125,000 on April 15, 2017. The company paid bank charges of $6,757 for the year, and interest expense of $4,718 (not limited). Deductible sales taxes totaled $21,000. . During the year, Dawson's Inc. contributed $5,000 to various charitable organizations. Other business deductions consist of: $12,000 for advertising. $4,000 insurance. $5,000 licenses. $1,500 legal and professional. $3,200 utilities. $1,000 office supplies. What are the total deductions to be reported on Form 1120, line 27?! O $137,662 $139,175 $142,380 $145,585 Mark for follow up
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