The TP's sole proprietorship had the following revenues and expenses during 2022: - Sales Revenue $485,000 - Sales Returns $17,000 - Cost of Goods Sold $161,000 - Interest Expense on business loan $4,000 - Car/Truck Expense (repairs, gas, oil, etc.) $8,300 - Taxes and licenses $18,300 - Depreciation $9,500 - Utilities $3,500 - Wages to sales staff $110,000 - Fee paid to CPA for Schedule C $1,500 The net profit for the sole proprietorship would be and it would be reported on $154,600, Schedule C, Line 31. $154,600, Schedule C. Line 7. $152,400, Schedule C, Line 31 . $151,900, Schedule C, Line 31. Based on the information contained in Question 2 above, the only correct entry for the TP to report based on the following choices would be: $118,228 on Schedule 1, Line 12. $11,264 on Schedule 1, Line 15. $22,528 on Schedule SE, Line 13. $4,300 on Schedule 2, Line 4