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[The following information applies to the questions displayed below] Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment

[The following information applies to the questions displayed below]

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. This year Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016

Interest income 12,960
Salon sales and revenue 87,460
Salaries paid to beuticians 45,820
Beauty salon supplies 23,510
Alimony paid to her ex-husband, Rocky 6,550
Rental revenue from apartment building 33,200
Depreciation on apartment building 13,450
Real estate taxes paid on apartment building 11,540
Real estate taxes paid on personal residence 6,560
Contributions to charity 4,600

a. Determine Betty's AGI

Interest income $
Salon Revenue $
$
$
$
Operating income from salon $
Apartment building revenue $
$
$
$
Apartment building income $
$
$
$
AGI $

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