Prepare a schedule C for the following cases: Case 1: Carmelo Mendez Carmelo Mndez is married...

 

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Prepare a schedule C for the following cases: Case 1: Carmelo Mendez Carmelo Mndez is married and has a car stereo business. Total sales for this taxable year were $75,000. Carmelo had the following expenses in his business: Spending Insurance commissions Expenses of Office Rent Utilities Licenses Spending Insurance Comissions Expenses of Office Amount Rent Utilities Licenses $200 $3,000 $1,000 $12,000 $2,500 $500 $300 Case 2: Mario Gomez Mario Gmez is married and has a business selling sports equipment. Total sales for this taxable year were $80,000. Mario had the following expenses in his business: Amount $5,000 $1,500 Cost of Goods Sold $10,000 $2,800 $500 Inventory at the beginning of Year Shopping Labor cost of Mounting $50,000 Costos de los bienes vendidos Inventory at the beginning of Year Shopping Labor cost of Mounting $5,000 $6,000 $70,000 $6,000 $5,000 Prepare a schedule C for the following cases: Case 1: Carmelo Mendez Carmelo Mndez is married and has a car stereo business. Total sales for this taxable year were $75,000. Carmelo had the following expenses in his business: Spending Insurance commissions Expenses of Office Rent Utilities Licenses Spending Insurance Comissions Expenses of Office Amount Rent Utilities Licenses $200 $3,000 $1,000 $12,000 $2,500 $500 $300 Case 2: Mario Gomez Mario Gmez is married and has a business selling sports equipment. Total sales for this taxable year were $80,000. Mario had the following expenses in his business: Amount $5,000 $1,500 Cost of Goods Sold $10,000 $2,800 $500 Inventory at the beginning of Year Shopping Labor cost of Mounting $50,000 Costos de los bienes vendidos Inventory at the beginning of Year Shopping Labor cost of Mounting $5,000 $6,000 $70,000 $6,000 $5,000

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Answer To prepare a Schedule C for Carmelo Mndez and Mario Gmez we need to calculate their net profi... View the full answer