Moneras Betzaida Ferrer has a business in partnership with Ivette Castro that sells handbags, called Moneras, where handbags and accessories are sold. The business code number is 20458. The business had gross profits of $250,000 but during the year several customers returned merchandise totaling $300 and Betzaida and Ivette offered several discounts to excellent customers for $500. The cost of goods sold for the year was $5,000. In the business they have an employee who is paid the minimum wage and works 40 hours a week. They have paid for business licenses worth $200. They purchased a property on January 10 of the taxable year for $100,000 and sold it on November 25 of the same year. They sold the property, the building where they started the business, for $150,000.