John Maylor Is a Self-Employed Plumber of John's John Service

question 14

Essay

John Maylor is a self-employed plumber of John's John Service, his sole proprietorship. In the current year, John's John Service had revenue of $120,000 and $40,000 of business expenses.
John also received $2,000 of interest income from corporate bonds.
What is John's adjusted gross income, assuming he had no other income or expenses? (ignore any deduction for self-employment tax.)

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Definitions:

Uterine Cycle

The monthly series of changes a woman's uterus undergoes to prepare for potential pregnancy.

Estrogen

A group of steroid hormones that promote the development and maintenance of female characteristics in the human body.

Endometrium

Mucous membrane lining the interior surface of the uterus.

Follicular Phase

The stage of a woman's menstrual cycle during which follicles in the ovary mature, ending with ovulation.