Albie Operates an Illegal Drug-Running Business and Has the Following

question 85

Essay

Albie operates an illegal drug-running business and has the following items of income and expense.What is Albie's adjusted gross income from this operation?
Income
$800,000
Expenses:
Rent
24,000
Utilities
9,000
Bribes to police
55,000
Medical expense
5,000
Legal fees
25,000
Depreciation
30,000
Illegal kickbacks
30,000
Cost of goods sold
300,000

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Definitions:

1980s

The decade ranging from January 1, 1980, to December 31, 1989, characterized by significant political, technological, and cultural changes.

Conditions

Refers to the circumstances or factors affecting the way in which people live or work, especially with regard to their well-being.

Long-Term Memory

The phase of memory that involves the storage of information over an extended period of time, from hours to a lifetime.

Analogy

A comparison between two things, typically for the purpose of explanation or clarification.