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Deductions
Advertising $1,015 --
Bad debts 3,150 --
Bank service charges 240 226
Car & truck expenses 8,733 7,675
Depreciation -- 17,669
Insurance 5,032 10,526
Office expense 3,758 3,284
Repairs 2,117 955
Supplies -- 4,707
Taxes -- 8,248
Utilities and telephone 3,674 6,866
Wages 92,761 92,761
Trash pickup -- --
Other expenses 660 14,443
Nonemployee compensation -- 76,100
Total deductions $121,140 $243,460
Net profit $14,609 $94,823
1988
Form 1040 Form 1040X
Income
Gross receipts or sales $506,362 $900,342
Less: Returns and allowances 8,137 18
Less: Cost of goods sold $356,363 $638,202
Balance (gross income) $141,862 $262,122
Deductions
Advertising $1,957 $506
Bad debts 2,217 0
Bank service charges 348 343
Car & truck expenses 9,451 3,455
Depreciation 0 10,410
Insurance 9,032 23,550
Office expenses 4,452 2,887
Repairs 3,991 0
Supplies 0 4,854
Taxes 0 10,435
Utilities and telephone 4,724 7,020
Wages 90,226 90,226
Trash pickup 0 0
Other expenses 848 39,042
Nonemployee compensation 0 0
Total deductions $127,246 $192,728
Net profit $14,616 $69,394
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Last modified: May 25, 2011