In order to add an addition on to their home, Bill and Mary borrowed $80,000 from Mary's father Jim. The money is to be repaid in 5 years and Jim's only other financial requirement is that Bill and Mary pay him the 1% rate per year that he was earning from his online money market account. The mid-term AFR rate is 3%. Additionally, Bill and Mary have net investment income in the current year of $1,500. How much total income must Jim recognize on his taxes for the first year

Yolo windows, a manufacturer of windows for commercial buildings, reports the following account information for last year (all costs are in thousands of dollars): information on january 1 (beginning): direct materials inventory $ 89 work-in-process inventory 111 finished goods inventory 1,620 information for the year: administrative costs $ 3,610 direct labor 12,900 direct materials purchases 8,210 factory and machine depreciation 11,720 factory supervision 774 factory utilities 940 indirect factory labor 2,880 indirect materials and supplies 688 marketing costs 1,480 property taxes on factory 282 sales revenue 45,800 information on december 31 (ending): direct materials inventory $ 94 work-in-process inventory 138 finished goods inventory 1,430 required: prepare an income statement with a supporting cost of goods sold statement. (enter your answers in thousands of dollars (i.e., 234,000 should be entered as