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.

E Business address (including sulte or room no.) City,townorpostoffice,state,andZIPcodeFAccountingmethod:(1)Cash(2)Accrual(3)other(specify)..................................................... H If you started or acquired this business during 2022, check here . Did you make any payments in 2022 that would require you to file Form(s) 1099? See instructions 1 Gross receipts or sales. See instructions for line 1 and check the box it this income was reported to you on Form W-2 and the "Statutory emplayee" box on that form was checked. 2 Retums and allowances. 3 Subtract line 2 from line 1 4 Cost of goods sold (from line 42) 5 Gross profit. Subtract line 4 from line 3 6 Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) 7 Gross income. Add lines 5 and 6 Part II Expenses. Enter expenses for business use of your home only on line 30. 32 If you have a loss, check the box that describes your investment in this activity. See instructions