James jones is the owner of a small retail business operated as a sole proprietorship. during 2018, his business recorded the following items of income and expense. revenue from inventory sales $ 147,000 cost of goods sold 33,500 business license tax 2,400 rent on retail space 42,000 supplies 15,000 wages paid to employees 22,000 payroll taxes 1,700 utilities 3,600 compute taxable income attributable to the sole proprietorship by completing schedule c to be included in james’s 2018 form 1040. compute self-employment tax payable on the earnings of james’s sole proprietorship by completing a 2018 schedule se, form 1040. assume that james's business is not a service business, and that it has $155,000 unadjusted basis in tangible depreciable property. calculate james's 2018 qbi deduction, before any overall taxable income limitation.