Scott Butterfield is self employed as a CPA He uses the cash method of accounting, and his Social Security number is 644 47 7833 His principal business code is 541211 Scott's CPA practice is located at 678 Third Street, Riverside, CA 92860 Scott's income statement for the year shows the following Income Statement Scott Butterfield, CPA Income Statement 12 31 2020 Current Period Prior Period 1 1 2020 to 12 31 2020 1 1 2019 to 12 31 2019 REVENUES Tax Services $76,123 $75,067 Accounting Services 49,001 48,860 Other Consulting Services 10,095 10,115 TOTAL REVENUES 135,219 134,042 COST OF SERVICES Salaries 32,000 30,100 Payroll Taxes 2,868 2,387 Supplies 1,391 1,548 TOTAL COST OF SERVICES 36,259 34,035 GROSS PROFIT (LOSS) 98,960 100,007 OPERATING EXPENSES Advertising and Promotion 300 350 Business Licenses and Permits 250 250 Charitable Contributions 425 275 Continuing Education 300 300 Dues and Subscriptions 3,500 3,500 Insurance 875 875 Meals and Entertainment 4,400 5,500 Office Expense 150 150 Postage and Delivery 50 50 Printing and Reproduction 100 100 Office Rent 14,000 14,000 Travel 865 865 Utilities 2,978 2,978 TOTAL OPERATING EXPENSES 28,193 29,193 NET INCOME (LOSS) $70,767 $70,814 Scott also mentioned the following The expenses for dues and subscriptions were his country club membership dues for the year $425 of the charitable contributions were made to a political action committee Scott does not generate income from the sale of goods and therefore does not record supplies and wages as part of cost of goods sold Scott placed a business auto in service on January 1, 2017 and drove it 3,824 miles for business, 3,250 miles for commuting, and 4,500 miles for nonbusiness purposes His wife has a car for personal use He maintains written records for the business use of the car Complete Schedule C for Scott showing Scott's net taxable profit from self employment Assume Scott has evidence to support his deductions If required, only use the minus sign to indicate a net loss When required, round amounts to the nearest dollar

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Scott Butterfield is self-employed as a CPA. He uses the cash method of accounting, and his Social Security number is 644-47-7833. His principal business code

Scott Butterfield is self-employed as a CPA. He uses the cash method of accounting, and his Social Security number is 644-47-7833. His principal business code is 541211. Scott's CPA practice is located at 678 Third Street, Riverside, CA 92860. Scott's income statement for the year shows the following:

Income Statement
Scott Butterfield, CPA Income Statement 12/31/2020
	Current Period	Prior Period
	1/1/2020 to 12/31/2020	1/1/2019 to 12/31/2019
REVENUES
Tax Services	$76,123	$75,067
Accounting Services	49,001	48,860
Other Consulting Services	10,095	10,115
TOTAL REVENUES	135,219	134,042
COST OF SERVICES
Salaries	32,000	30,100
Payroll Taxes	2,868	2,387
Supplies	1,391	1,548
TOTAL COST OF SERVICES	36,259	34,035
GROSS PROFIT (LOSS)	98,960	100,007
OPERATING EXPENSES
Advertising and Promotion	300	350
Business Licenses and Permits	250	250
Charitable Contributions	425	275
Continuing Education	300	300
Dues and Subscriptions	3,500	3,500
Insurance	875	875
Meals and Entertainment	4,400	5,500
Office Expense	150	150
Postage and Delivery	50	50
Printing and Reproduction	100	100
Office Rent	14,000	14,000
Travel	865	865
Utilities	2,978	2,978
TOTAL OPERATING EXPENSES	28,193	29,193

NET INCOME (LOSS)	$70,767	$70,814

Scott also mentioned the following:

The expenses for dues and subscriptions were his country club membership dues for the year.
$425 of the charitable contributions were made to a political action committee.
Scott does not generate income from the sale of goods and therefore does not record supplies and wages as part of cost of goods sold.
Scott placed a business auto in service on January 1, 2017 and drove it 3,824 miles for business, 3,250 miles for commuting, and 4,500 miles for nonbusiness purposes. His wife has a car for personal use. He maintains written records for the business use of the car.

Complete Schedule C for Scott showing Scott's net taxable profit from self-employment. Assume Scott has evidence to support his deductions. If required, only use the minus sign to indicate a net loss. When required, round amounts to the nearest dollar.