Tom,Dick,and Harry Operate Quality Stores

question 37

Multiple Choice

Tom,Dick,and Harry operate Quality Stores.Based on advice from Tom's sister,a CPA,the three form a partnership.Tom owns 50%; Dick and Harry each own 25%.For the year,Quality Stores reports the following: ​
By how much will Tom's adjusted gross income increase because of the above?

• A)$178,000
• B)$180,000
• C)$183,000
• D)$184,000
• E)$186,000

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Definitions:

Mass Production

The manufacturing of large quantities of standardized products, often using assembly lines or automated technology, which benefits from economies of scale.

Suburbanization

The process by which populations move from urban areas to suburbs, often leading to the growth of residential areas on the outskirts of cities.

Farms

Land and the buildings on it, used for growing crops and/or raising animals as a primary source of income.

Protective Tariffs

Taxes imposed on imported goods to protect domestic industries from foreign competition by making imports more expensive.