What is George's gross income if he has the following: Salary = $78,000;Dividends = $4,000;interest on city of San Francisco bonds = $2,000;a gain of $14,000 on a stock sale and a $4,000 loss on a small sole proprietorship that he owns.
A)$78,000
B)$84,000
C)$92,000
D)$96,000

Question

Quizplus · Accepted Answer

George's gross income is calculated by adding up all his sources of income. 
Salary = $78,000
Dividends = $4,000
Interest on city of San Francisco bonds = $2,000
Gain on a stock sale = $14,000
Loss on sole proprietorship = -$4,000
$78,000 + $4,000 + $2,000 + $14,000 - $4,000 = $94,000
Therefore, George's gross income is $92,000.

What Is George's Gross Income If He Has the Following