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How much is mary business income for tax purposes

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Question - Mary operates a proprietorship that generated $100,000 in income under GAAP. Included in this amount are: $7,000 of amortization expense; $4,000 for bad debt expense; $112,000 cost of goods sold; and $12,000 meals and entertainment with clients. Mary's maximum CCA has been calculated at $10,000 for the year. How much is Mary's business income for tax purposes?

a- $113,000

b- $109,000

c- $107,000

d- $103,000

Reference no: EM133037237

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