Mort is the owner of an apartment building containing ten identical apartments. Mort resides in one apartment and rents out the remaining units. For 2018, the following information is available:

Gross rents................................................................................$21,600

Utilities for total building.............................................................2,500

Maintenance and repairs (rental apartments only).................1,050

Advertising for vacant apartments................................................300

Depreciation of building (all ten units).......................................4,000

What amount should Mort report as net rental income for 2018?

Answer rating: 100% (QA)

Net Income Net income is the last line in the income statementIt ... View the full answer