Gary Friedmann - Page 9







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                   business or profession listed as "CPA", operating under the                                                  

                   name of "Gary Friedmann CPA".  Petitioner reported the                                                       

                   following income and expenses for that business on the                                                       

                   Schedules C:                                                                                                 

                                                                           1989                               1990             


                   Gross receipts or sales                       $177,072                          $175,790                     
                   Returns and allowances                        103,784                          97,854                       
                   Gross income                                            $73,288                          $77,936           
                   Car and truck expenses                        7,946                            8,584                        
                   Depreciation                                  5,096                             5,096                        
                   Interest                                                                                                     
                   Mortgage                                      -0-                               -0-                          
                   Other                                         187                               -0-                          
                   Legal and professional servs.                 2,000                             -0-                          
                   Office expenses                               21,935                            21,041                       
                   Rent                                                                                                         
                   Machinery & equipment                         -0-                               -0-                          
                   Other business property                       4,600                             6,308                        
                   Repairs                                       403                               632                          
                   Travel, meals & entertainment                                                                                
                   Travel                                        6,089                             17,940                       
                   Meals and entertainment           $25,051                           $27,359                                 
                   20% of meals                      5,010                              5,472                                   
                                                                 20,041                            21,887                       
                   Utilities                                                                      920                          
                   Other expenses                                                                                               
                   Telephone                         6,025                              3,100                                   
                   Legal                             1,600                              5,000                                   
                   Dues                              132                                600                                     
                   Assoc.                            3,600                                                                      
                   Gifts                             719                                1,109                                   
                   Publications                      600                                 700                                    
                                                                 12,676                            10,509                       
                                                                            80,973                            92,917            
                   Net profit or (loss)                                     -7,685                            -14,981           





















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