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Determine the effect on Adrian gross income

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Problem - Adrian was awarded an academic scholarship to State University for the 2019-2020 academic year. He received $6,500 in August and $7,200 in December 2019. Adrian had enough personal savings to pay all expenses as they came due. Adrian's expenditures for the relevant period were as follows:

Tuition, August 2019 $3,700

Tuition, January 2020 3,750

Room and board

August-December 2019 2,800

January-May 2020 2,500

Books and educational supplies

August-December 2019 1,000

January-May 2020 1,200

Required - Determine the effect on Adrian's gross income for 2019 and 2020.

Reference no: EM132655589

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