Richard operates a hair styling boutique out of his home. The boutique occupies 420 of the home's 1,200 square feet of floor space. Other information is as follows:

Gross income from the boutique $10,000
Supplies for the boutique $ 2,400
Depreciation on total residence $12,000
Utilities for total residence $ 6,000

What amount of income or loss from the boutique should Richard show on his return?

a.$3,500 income
b.$1,300 income
c.$0 income or loss
d.$10,400 loss
e. None of these choices are correct.

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60