Joline operates Adventure Tours as a sole proprietorship. For the year, Adventure Tours has the following income and expense items:
Sales revenues$325,000
Short-term capital gains5,000
Short-term capital losses(9,000)
Trade and business expenses(185,000)
Taxable income$136,000
?
If Joline has other income of $6,000, what is her adjusted gross income?
A. $141,000
B. $142,000
C. $143,000
D. $146,000
Answer: C
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