Sam rented an office building to Chip for $4,000 per month. On December 29, 2017, Sam received a deposit of $6,000 in addition to the first and last months' rent. Occupancy began on January 2, 2018. On July 15, 2018, Chip closed his business and filed for bankruptcy. Sam had collected rent for February, March, and April on the first of each month. Sam had received May rent on May 10, but collected no payments afterwards. Sam withheld $1,200 from the deposit because of damage to the property and $2,000 for unpaid rent. He refunded the balance of the deposit to Chip. Requirement What amount would Sam report as gross income for 2017? for 2018? Begin by selecting the labels to show the items that will comprise Sam's 2017 gross income, and then enter the amounts to compute the 2017 gross income amount. (If an input field is not used, leave the input field(s) empty; do not select a label or enter a zero.) Taxable item 2017 Gross income First month's rent 4,000 Last month's rent 4,000 $ $ 8,000 Total gross income Total gross income Now select the labels to show the items that will comprise Sam's 2018 gross income, and then enter the amounts to compute the 2018 gross income amount. (If an input field is not used, leave the input field(s) empty; do not select a label or enter a zero.) Taxable item 2018 Gross income Q Total gross income Help Me Solve This e Text Pages Get More Help Clear All Check Answer OCT CC 24 CH tvm A s