Problem 2 Determine AGI John and Sarah Connors are married for all of 2023. They are both 70 years old. During the year they report the following receipts and expenditures. Receipts Wages from Skynt for John 140,000 Revenues from Bergamont consulting - Sarah's business 50,000 Withdrawal from Sarah's Roth IRA Proceeds from the Sale of YRM, ltd Expenditures Related to Bergamont Consulting Supplies Utilities 8,000 80,000 17,000 12,000 Boat purchased for personal use 55,000 Other Student Loan Interest Medical Insurance premiums Addition of new room to house OTHER INFORMATION 2,000 15,000 75,000 1. Sarah's at-risk basis in Bergamont Consulting, of which she is the sole proprietor, at the beginning of the year is $15,000. There are no suspended losses. She was a material participant in the business and it was considered a for-profit activity. 2. During the year the Connors sell 100% of their interest in the partnership YRM, Ltd, a passive activity. At the time of the sale they had $20,000 of suspended passive activity losses associated with the investment and an adjusted basis of $11,000. 3. John made a $13,000 contribution to his 401k plan. 4. The taxpayers itemize their deductions. Required: What is the Conner's AGI for 2023?