Business
Business, 18.06.2020 00:57, CJohnson9552

David purchased a deli shop on February 1st of last year and began to operate it as a sole proprietorship. David reports his personal taxes using the cash method over a calendar year, and he wants to use the cash method and fiscal year for his sole proprietorship. He has summarized his receipts and expenses through January 31st of this year as follows: Receipts Expenses
February through December last year $112,400 $83,900
January this year 10,800 6,600
What income should David report from his sole proprietorship?

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