Henry C. Boler and Sherry M. Boler - Page 3




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               3.  Whether AIM’s cost of goods sold for 1994 is $103,415,             
          as petitioners contend, or $85,883, as respondent contends.  We             
          hold that it is $85,883.                                                    
               4.  Whether AIM may deduct $442 in 1994, $40 in 1995, and              
          $243 in 1996 for reimbursement of petitioner’s payments to high             
          school students for work they performed for AIM.  We hold that it           
          may, and that these payments are not constructive dividends to              
          petitioner.                                                                 
               5.  Whether AIM may deduct $236 in 1995 and $369 in 1996 for           
          reimbursement of petitioner’s golf expenses.  We hold that it may           
          not, and that these payments are constructive dividends to                  
          petitioner.                                                                 
               6.  Whether AIM may deduct $288 in 1994, $390 in 1995, and             
          $322 in 1996 for reimbursement of petitioners’ payments of                  
          employee meal expenses.  We hold that it may, and that those                
          amounts are not constructive dividends to petitioner.                       
               7.  Whether AIM may deduct $4,200 in 1994 for Sherry M.                
          Boler’s (Mrs. Boler) travel expenses.  We hold that it may not.             
               8.  Whether AIM may deduct the following reimbursements paid           
          to petitioner in 1995:  $1,254 recorded in AIM’s journal as GJ1             
          18308, $600 recorded as GJ1 00172, and $480 recorded as GJ1                 











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