question archive Bryan followed in his father's footsteps and entered into the carpet business
Bryan followed in his father's footsteps and entered into the carpet business. He owns and operates I Do Carpet (IDC). Bryan prefers to install carpet only, but in order to earn additional revenue, he also cleans carpets and sells carpet-cleaning supplies.
Purchase DateBottles Total CostNovember last year40 $152February this year35 128July this year25 105August this year40 180Totals140 $565
Compute his taxable income for the current year considering the above items. (Enter zero for no effect on taxable income. Do not round intermediate calculations.)