H and M, Married with Two Dependent Children, Operate a Piano

question 42

Multiple Choice

H and M, married with two dependent children, operate a piano and organ store.Their records for the current year revealed the following: Gross income from sales $\quad$$\quad \$ 175,000$
Business operating expenses $\quad$$\quad$ 250,000
Interest income from inv estment $\quad$$\quad 6,000$
Interest expense on home mortgage $\quad$ $\quad 9,000$
Long-term capital gain (business) $\quad$$\quad 3,000$
Long-term capital loss (business) $\quad$$\quad 3,500$ Their net operating loss for the year is

• A)$75,000
• B)$75,500
• C)$78,500
• D)$82,000

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Definitions:

Heterosexual Counterparts

Refers to individuals who identify as heterosexual, in contrast to those who identify with other sexual orientations.

School Bullying

Aggressive behavior among school-aged children involving a real or perceived power imbalance, often repeated over time.

Bipolar Disorder

A mental health condition marked by extreme mood swings, including emotional highs (mania or hypomania) and lows (depression).

Suicidality

The inclination towards thinking about, planning, or committing suicide.