James Jones is the owner of a small retail business operated as a sole proprietorship. During 2019, 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

a. Compute taxable income attributable to the sole proprietorship by completing Schedule C to be included in James’s 2019 Form 1040.

b. Compute self-employment tax payable on the earnings of James’s sole proprietorship by completing a 2019 Schedule SE, Form 1040.

Gexpressions: practice question 3 of 5 jackson wants to study the popularity of his music video by tracking the number of views the video gets on his website. the expression below represents the total number of views that jackson's video receives n days after he begins tracking the nu views, where b is the rate at which the number of views changes. alb)" select the statement that would accurately describe the effect of tripling a, the initial number of views before jackson beginst the rate at which the number of views changes, b, will triple. the total number of views the video has after n days, a(b)", will not change. the total number of days since jackson begins tracking views, n, will be reduced by one-third. the total number of views the video has after n days, alb)", will triple. submit