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calculate the net loss or net profit based on the information for the year.
OME N Atte Sec . SCHEDULE C Profit or Loss From Business (Form 1040 or (Sole Proprietorship) 1040-SR) Go to www.lrs.gow Sched
1. You collected $100,000 in cash for tutoring services. 2. You have 10 hours of tutoring for the last week of December that
13. You take prospective clients out to lunch to discuss services. Your cost for meals for the year is $2,000. 14. Your adver
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Profit & loss Calculation 525 Point No. Income: 9 Sales 9 Cost of Goods Sold revenue Income $ $ 175 S 350 1 Tutoring ServicesGross Income $ 100,950 EXPENSES: 3 2,500 4 un $ $ $ $ $ 6 Assuming in Allowable limits as per Tax Rules 7 8 Office Rent Utili

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