Problem 9-31 (Algorithmic) (LO. 5) Stork Associates paid $79,800 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $80 to $240 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event at a cost of $2,600. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated. How much may Stork deduct for this event? 3,700 x Codbol Christine is a full-time fourth-grade teacher at Vireo Academy. During the current year, she spends $1,400 for classroom supplies. On the submission of adequate substantiation, Vireo reimburses her for $500 of these expenses-the maximum reimbursement allowed for supplies under school policy. [The reimbursement is not shown as income (Box 1) of Form W-2 given to Christine by Vireo.] a. What are the income tax consequence of the $1,400, if Christine chooses to itemize her deductions from AGI? She can claim the educator's deduction in the amount of $1,400 from AGI and is an employee business expense which is b. What are the income tax consequences of the $1,400, if Christine claims the standard deduction? She can claim the educator's deduction in the amount of $500 AGI