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Need help with part c... cant figure it out. Check my work View previous attempt James Jones is the owner of a small retail business

image text in transcribedNeed help with part c... cant figure it out.

Check my work View previous attempt James Jones is the owner of a small retail business operated as a sole proprietorship. During 2017, his business recorded the following items of income and expense Revenue from inventory sales Cost of goods sold Business license tax Rent on retail space Supplies Wages paid to employees Payroll taxes Utilities $147,000 33,500 2,400 42,000 15,000 22,000 1,700 3,600 a. Compute taxable income attributable to the sole proprietorship by completing Schedule C to be included in James's 2017 Form b. Compute self-employment tax payable on the earnings of James's sole proprietorship by completing a 2017 Schedule SE, Form c. Assume your answers to parts a and b are the same for 2018. Further assume that James's business is not a service business, and 1040 1040 that it has $155,000 unadjusted basis in tangible depreciable property. Calculate James's 2018 Section 199A deduction

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