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Ron, age 19, is a full-time graduate student at City University. During 2010, he received the following payments: State scholarship for ten months (tuition and

Ron, age 19, is a full-time graduate student at City University. During 2010, he received the following payments: State scholarship for ten months (tuition and books) - $4,000 Loan from college financial aid office - $2,000 Cash support from parents - $2,500 Cash award for being the outstanding resident adviser - $1,000 Total - $9,500 Ron served as a resident advisor in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2010? a) $1,000 b) $3,500 c) $5,000 d) $12,000 e) None of the above

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