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Sydney is the sole owner of a C corporation, Dreamers United. Dreamers makes replicas of Native American art (fully licensed of course) and sells it
Sydney is the sole owner of a C corporation, Dreamers United. Dreamers makes replicas of Native American art (fully licensed of course) and sells it on the internet. Sydney lives in Oakland, California. Dreamers had sales of $15,000 in 2017. Dreamers had cash outlays during 2017 of $4,000 for product costs, $3,000 for license costs, $500 for shipping costs, and paid Sydney a salary of $1,000 for her work as President of the company. What will be Dreamers gross income for 2017?
Group of answer choices
15,000
7,500
6,500
11,000
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