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Yolanda is a cash basis taxpayer with the following transactions during the year: Cash received from sale of products $70,000 Cash paid for expenses (except

Yolanda is a cash basis taxpayer with the following transactions during the year:

Cash received from sale of products $70,000
Cash paid for expenses (except rent and interest) 40,000
Rent prepaid on a leased building for 18 months beginning December 1 48,600
Prepaid interest on a bank loan, paid on December 31 for the next 3 months 5,000

Calculate Yolanda's income from her business for this calendar year.

If an amount is zero, enter "0". If required, in your computations round any division to five decimal places and round final answers to the nearest dollar.

Sales income
Expenses:
Other than rent and interest
Rent
Interest
Net income

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