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:

Excessive Heat

Undesired high temperatures generated in a system or device, often due to inefficiency or overload, leading to potential damage.

Motor Starter

A device that controls the use of electrical power to equipment, specifically to start and stop the motor safely.

Motor Control Center

A centralized assembly of motor starters, controllers, and other devices, housed in a cabinet for power distribution and control in industrial environments.

Electronic Type

Pertains to devices or systems that operate based on the flow of electrons through semiconductors, vacuum tubes, or other components.