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:

Blood Capacity

The total volume of blood that circulates within an individual's body, which varies based on size and health conditions.

Larger Hearts

This condition can be found in individuals with hypertension or athletes who engage in extensive endurance training, resulting in a heart that is larger than normal due to the increased workload.

ATP-CP Energy System

A short-term energy system that provides immediate energy through the breakdown of adenosine triphosphate and creatine phosphate in the muscles.

Glycolytic Energy System

A pathway for energy production that breaks down glucose for immediate energy, producing ATP anaerobically during high-intensity activities.