Rebecca is a doctor with an AGI of $140,000 before consideration of income or loss from her dog breeding business. Her home is on 15 acres, 10 of which she uses to house the animals and provide them with ample space to play and exercise. Her records show the following related income and expenses for the current year: Income from fees and sales $ 3,250 Expenses: Dog food $ 4,750 Veterinary bills 4,250 Supplies 1,500 Publications and dues 500 Required: How must Rebecca treat the income and expenses of the operation if the dog breeding business is held to be a hobby? Note: Leave no cells blank. Enter "0" wherever required. How would your answer differ if the operation were held to be a business? Schedule C Business income/(loss)$(7,750)selected answer incorrecta. Other Income/(loss)$3,250selected answer correcta. Expenses (Schedule A)$0selected answer correctb. Schedule C Business income/(loss)$136,250selected answer incorrectb. Other Income/(loss)$0selected answer correctb. Expenses (Schedule A)$11,000selected answer incorrect