Problem 7-43 (LO. 7) Mario, a single taxpayer with two dependent children, has the following items of income and expense during 2020: 180,000 Gross receipts from business Business expenses Net capital gain Interest income Itemized deductions (state taxes, residence interest, and contributions) If required, use the minus sign to indicate a negative AGI or a loss. $144,000 22,000 3,000 24,000 a. Determine Mario's taxable income or loss for 2020. Adjusted gross income Less: itemized deductions Deduction for qualified business income Less : Loss -11,000 -35,000