Alexandra Operates a Garage as a Sole Proprietorship

question 2

Essay

Alexandra operates a garage as a sole proprietorship. Alexandra also owns a half interest in a partnership that operates a gas station. This year Alexandra paid or reported the following expenses related to her garage and other property. Determine Alexandra's AGI for 2014. $\begin{array}{lr}\text { Revenue from auto repairs } & \$ 143,930 \\\text { Salaries paid to mechanics } & 72,210 \\\text { Supplies and tools } & 18,500 \\\text { Revenues from gas station partnership (Alexandra's share) } & 125,000 \\\text { Expenses from gas station partnership (Alexandra's share) } & 95,200 \\\text { Self-employment tax (1/2 is employer's share) } & 12,702\end{array}$

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Definitions:

Social Comparison

The process of evaluating oneself by comparison with others, often to assess one's abilities or opinions.

Social Comparison

The process by which individuals evaluate their own abilities, achievements, and conditions by making comparisons with others.

Perceptions

The process by which individuals interpret and organize sensory information to understand their environment.

Attitudes

Psychological tendencies that are expressed by evaluating a particular entity with some degree of favor or disfavor.