On January 21, 2010, Andrew purchased 350 shares of Balke common stock for $24,500. On November 13, 2020, he sold the 350 shares for $7,250. On December 1, 2020, Andrew purchased 350 shares of Balke common stock for $8,000. What is Andrew's basis in these shares? $24,500 $25,250 $17,250 $8,000 Eric operates a business as a sole proprietorship. This year his net profit was $110,460. For tax purposes the starting point to report this amount should be on: Schedule E, Statement of Rent and Royalty Income A separate tax return prepared for the business operation Schedule C, Statement of Profit or Loss from Business The first page of Form 1040 as other income