QUESTION 4

1. Fred's Pizza business provides you the following Accounting GAAP financial information for this year's business income tax return:

   Income Statement:

   1. Revenue: $100,000
   2. Meals and Entertainment: $10,000
   3. Supply Expenses: $2,000
   4. Depreciation Expenses: $5,000

   Assets Furniture (Class 8, 20%); UCC was $10,000; Purchase this year was $10,000 and disposed of furniture for proceeds of $10,000 and had an original cost of $5,000.

   Building (Class 1, 4%); UCC was $100,000

   The Accounting Profit (not income tax profit) is?