You are self-employed for the full year 2022 and file a Schedule C. Due to the nature of your business you do not need to have a car and provide most of your services to clients over Zoom. Your business had gross receipts of $54,000.

You incurred the following business expenses: Business Insurance $1,000, Advertising $500, Office Supplies $1,200, Monthly Rent $3,000, Utilities $300 per month,

What is your tentative profit or loss Line 29 Schedule C based solely on the above?

a,) $11,700

b.) $45,000

c.) $48,000

d.) No answer text provided.