Required information Problem 12-48 (LO 12-3) (Algo) [The following information applies to the questions displayed below] Jarvie loves to bike. In fact, he has always turned down better-paying jobs to work in bicycle shops where he gets an employee discount. At Jarvie's current shop, Bad Dog Cycles, each employee is allowed to purchase four bicycles a year at a discount Bad Dog has an average gross profit percentage on bicycles of 25 percent. During the current year, Jarvie bought the following bikes: Exployee Price Description Specialized road bike. Recky Mountain mountain bike Trek road bike Yeti mountain bike. Retail Price $6,700 Cost $ 4.500 $4.600 4.900 3.680 3,920 4.800 3.450 3,360 3,600 3. 070 2.000 Problem 12-48 Part a (Algo) a. What amount is Jarvie required to include in taxable income from these purchases? Amount to be included