Nicholas, age 49, is an unmarried, cash basis, calendar year taxpayer.Nicholas has no dependents. Nicholas has the following income and deductions for 2017:

RECEIPTS FOR YEAR

Salary from local school district$78,000

Interest from Friendly Bank 3,235

Interest from State of Arizona bonds1,600

Loss from sale of Tandem Diabetic held 36 months3,200

Gross income from sole proprietorship business5,600

EXPENDITURES FOR YEAR

Itemized deductions 6,700

Expenses related to generating rental income2,400

Calculate Nicholas's adjusted gross income, taxable income, and federal income tax.Show your work.

AGI = $____________Taxable Income = $____________Gross income tax = $_____________