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! Required information Problem 6-30 (LO 6-1) (Algo) [The following information applies to the questions displayed below.] Betty operates a beauty salon as a
! Required information Problem 6-30 (LO 6-1) (Algo) [The following information applies to the questions displayed below.] Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2021, Betty had the following income and expenses. You may assume that Betty will owe $2,522 in self-employment tax on her salon income, with $1,261 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016. Interest income Salon sales and revenue Salaries paid to beauticians Beauty salon supplies Alimony paid to her ex-husband, Rocky $ 11,720 86,660 45,380 23,430 6,150 Rental revenue from apartment building 31,760 Depreciation on apartment building 13,050 Real estate taxes paid on apartment building 11,220 Real estate taxes paid on personal residence Contributions to charity 6,328 4,336
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