Question: MINI CASE NOT TO HOLD angle mother is barely scraping by Algh she malayong Aceable de part of a local business, has to pay for

MINI CASE NOT TO HOLD angle mother is barelyMINI CASE NOT TO HOLD angle mother is barely

MINI CASE NOT TO HOLD angle mother is barely scraping by Algh she malayong Aceable de part of a local business, has to pay for the other two who is five and Marin who is three When the web.underad be moved the found for business that makes the succed Doh the sogn Your how atteo Tedeschen of bombeled, and then delivered to and special shops in south Texas. The equo the sauce is commercial Quality and appears to be in good condition The Business in statements and the owner's 1040 Schedule business tax returns do Mancial statements show that in the most recent year the business earned 560.000 of $200,000. The 1040 Schedule C shows a profit of only $10,000, and a zero tax tabiiy Sonucing losses suffered in prior years. The sewers are asking $240.000 for the business o the accounting and the tax returns wwwing to finance $190,000 at 10 percent for 15 years. Chen Gwendolyn sat down with the owner, Sylvester Gatos, he attempted to explain the discrep ou see. Sy said, "there are two things. First some of the expenses on the schedule Carent y business expenses. If you know what I mean. Second, when we did the income statement, we Bok out depreciation, interest, property tax, and the money that we used from the business because will not have those expenses." 1 What information should Gwendolyn obtain before making a decision to purchase the business

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