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receipts 985,318.11 938,881.27
1 For fiscal 1981, this includes $23,540.62 in proceeds from the
sale of Gleave’s mother’s house, deposited into Kenmore’s Account
on Sep. 10, 1980, in the form of a check in the amount of
$17,215.58 and another check in the amount of $6,325.04. For
each year, this includes $6,600 of purchase-money mortgage
receipts that may have been deposited into Kenmore’s Account.
2 The accounts receivable amounts are as reported on Kenmore’s
tax returns.
Table 6 shows the components and amounts of the calculations
of Kenmore’s increase in purchases.
Table 6
Item 1981 1982
Kenmore’s total purchases $700,407.83 $2,113,204.60
Purchase reported 226,009.00 1,523,673.00
Increase in purchases 474,398.83 589,531.60
Table 7 shows Kenmore’s total taxable income, the amount
Kenmore reported, and the amount Kenmore omitted to report. See
supra table 3 note 1.
Table 7
Year 1981 1982
Total taxable income $513,424.28 $369,377.67
Reported taxable income 1,755.00 23,821.00
Taxable income omitted 511,669.28 345,556.67
Gleave
1980--Gleave Income--Clear and Convincing
During 1980 Kenmore issued 10 checks aggregating $2,853.35
to make Gleave’s mortgage payments on his house. During 1980
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