The question base on ADJ, Taxable income studies, the 4 questions are as blow.

Tara Murphy (age 39 and single) had previously never worked but started a high quality art gallery business on January 2, 2018+ During the year the business had the following activity:+ Purchased paintings for+ 500,000+ Made cash sales of paintings (costing $280,000) for+ 850,0004 Delivered a painting (costing $150,000) on 12/28/18, but+ payment wasn't received until January 7, 2019+ 400,000+ Due to a small fire in the basement a painting costing $40,000 but worth 5200,000 was destroyed. The painting was not insured All remaining inventory was on hand at year end+ She paid an attorney to form her new business+ 5,0004* She printed flyers to advertise her buisness and had a high school student hand them out+ 2,00014) Tara paid salaries and operating expenses of (30,000) + Due to the initial success of her business Tara bought her 3 employees ad Rolex watch costing $10,000 each+ (30,000)+ She gave them these gifts at the Christmas party at Aqua (2,500)+ She paid medical insurance for her employees of+ (9,000)+ The business paid her medical insurance of+ (7,000)+ Tara had a home office which represented 10% of the total home square footage, She had the following expenses:+ Mortgage interest+ 23,000+ + Property tax+ 7,000-+ Insurance+ 2,500+ Furniture+ 1,200+ Cleaning the office+ 350 Tara also had the following income and expenses:+ Interest income from Wells Fargo bond 50,0004 Paid interest expense on loan taken out to buy Wells Fargo bond (70,000)+ Before deciding to open the Art store, Tara had considered opening an Applebees+ and had incurred research costs of (12,000) Paid investment advisor fees of (25,000)+ Due to the stress of opening her own business, Tara booked herself into Paso Robles for some much needed relaxation (20,000) Cosmetic surgery (eye lift and nose job). Tara believes this is a business expense as she has to look good for her clients (16,000)+ Entertaining her largest client she incurred the following costs:+ Cab fare+ 35+ Dinner at restaurant+ 485+ Tip to waiter+ 100+ Tickets to Giants Game+ 600+ What is Tara's net business income for the year? B What is Tara's adjusted gross income for the year?+ What is her OBI deduction?+ What is Tara's taxable income for the year?+ What is Tara's net tax liability for the year? (ignore AMT)