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Schedule C Samuel Lincoln (Social Security Number: 123-45-6789) owns a tool and dye business as a sole proprietor. He has provided you with the following
Schedule C
Samuel Lincoln (Social Security Number: 123-45-6789) owns a tool and dye business as a sole proprietor. He has provided you with the following information for the current tax year:
Revenue $235,000
Cost of goods sold $ 100,000
Rent paid $ 24,000
Advertising $ 1,200
Insurance $ 3,000
Salaries paid $ 78,000
Office expense $ 1,500
Supplies $ 2,200
Business meals $ 1,800 (Taken at restaurants)
Entertainment $ 2,450
Utilities $ 12,000
Complete Schedule C for Samuel Lincoln for the current tax year.
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