Victor I. Rosenberg and Deborah I. Rosenberg - Page 24

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          picture industry.                                                           
               To reflect the foregoing and concessions of the parties,6              

                                                  Decision will be entered            
                                             under Rule 155.                          





























               6  Respondent determined and contends that petitioners did             
          not have a cost of goods sold of $150,000 in 1989.  Petitioners             
          did not address this issue on brief.  We deem petitioners to have           
          conceded this issue.  See Burbage v. Commissioner, 82 T.C. 546,             
          547 n.2 (1984), affd. 774 F.2d 644 (4th Cir. 1985); Wolf v.                 
          Commissioner, T.C. Memo. 1992-432, affd. 13 F.3d 189 (6th Cir.              
          1993).                                                                      

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