Please anser the below question, including the math portion (show work please) and the written explanations. Thanks!

Sarah and Gabe have asked you to calculate their adjusted gross income based on the information in the financial statements you have prepared. They want to make certain they have not overlooked items in doing their taxes themselves in the past. They want to better understand the components of adjusted gross income and explain what is meant by for AGI and from AGI. As part of your explanation, please explain which IRS forms and schedules are used in determining for AGI and from AGI tax return entries and which lines on Form 1040 are used to report the relevant data. Before meeting with you, Gabe and Sarah prepared the following information. The Cantrells Fixed and Variable Expenses Expenses Amount Frequency Health Insurance premium(under Sarahs group health plan)1 $4,800 Annually 401(k) contribution (Gabe)2 $3,800 Annually 401(k) contribution (Sarah)2 $5,000 Annually SS/Medicare (FICA) withholdings (combined) $14,900 Annually Federal tax withholdings (combined) $33,000 Annually Mortgage payments 43,200 Annually Credit card payments $6,000 Annually Auto insurance $2,400 Annually Homeowners insurance $1200 Annually Subscriptions $480 Annually Cell phone $1,800 Annually Home Internet $1,100 Annually Hobbies (Sarah) $1,450 Annually Recreation/entertainment $4,800 Annually Groceries $6,000 Annually Food away from home $3,000 Annually Real estate taxes $1,480 Annually College loan - Gabe $7,200 Annually Private mortgage insurance $1000 Annually Household maintenance $750 Annually Other Home Expenses $750 Annually Utilities $3,300 Annually Clothing $2,200 Annually Furnishings $750 Annually Child care3 $7,200 Annually Eyeglasses $300 Annually Medical deductibles and co=pays $500 Annually Unreimbursed medical expenses $1000 Annually Gasoline $1,100 Annually Car registrations $1,000 Annually Personal property tax $1,500 Annually Charitable contributions $1200 Annually Vacations $6,000 Annually Gifts to family members $1,000 Annually 1Pretax Section 125 plan expenses 2Pretax contributions 3The child care provider is licensed in Anystate. Note: Last year, the Cantrells paid $711 in Anystate sales taxes. The Cantrells Assets Asset Amount Ownership Financial Assets Checking account $350 Joint Savings account $500 Joint EE savings bonds $1,000 Joint Sarah Section 401(k) Plan $70,000 Sarah Gabe Section 401(k) Plan Current Employer $24,000 Gabe Gabe Section 401(k) Plan Previous Employer $20,000 Gabe Large-cap funds $5,000 Gabe Mid-cap funds $2,500 Gabe Small-cap funds $2,500 Gabe Government bond funds $1,000 Sarah Mid-cap funds $2,500 Sarah Small-cap funds $1,000 Sarah Other Assets Primary residence $500,000 Joint Buick SUV $22,000 Joint GMC pickup $9,800 Joint Collectibles $1,200 Joint Golf clubs and equipment $3,800 Joint 16 sailboat $9,600 Joint Furniture $13,000 Joint Other assets $4,700 Joint The Cantrells Liabilities Liability Amount Ownership Visa credit card4 $12,000 Joint MasterCard5 $5000 Joint Mortgage Unknown Joint College loan Gabe6 $25,000 417.95 percent APR 514.25 percent APR 64.5% Gabe and Sarah purchased a new home when they first married. They made a down payment of $10,000 and the original mortgage was $490,000 for thirty years. interest. Gabe and Sarah have made precisely 48 payments on the mortgage. The current replacement cost of the home is $600,000. The original mortgage terms are 30 years at 4.5% interest.