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On 12/31/X4, Zoom, LLC reported a $61,500 loss on its books. The items included in the loss computation were $31,000 in sales revenue, $16,000 in qualified dividends, $23,000 in cost of goods sold, $51,000 charitable contribution, $21,000 in employee wages, and $13,500 of rent expense. How much ordinary business income (loss) will Zoom report on its X4 return?

A.)$8,000).

B.)($26,500).

C.)($61,500).

D.)($96,500)

Respuesta :

Answer:

Option (B) is correct.

Explanation:

Given that,

Sales revenue = $31,000

Cost of goods sold = $23,000

Employee wages = $21,000

Rent expense = $13,500

Ordinary business income (loss) will Zoom report on its X4 return:

= Sales revenue - Cost of goods sold - Employee wages - Rent expense

= $31,000 - $23,000 - $21,000 - $13,500

= - ($26,500)

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