Summary Problem: Ralph,age 44,is an account executive for Cobb Advertising,Inc.Ralph's annual salary is $90,000.Other benefits paid by Cobb Advertising were:
In addition to the benefits above,Cobb Advertising has a qualified pension plan into which employees can contribute (and Cobb matches)up to 5% of their annual salary.Ralph contributes the maximum allowable to the plan.
Ralph has never been able to itemize his allowable personal deductions (i.e. ,he always uses the standard deduction).In 2017,Ralph receives a refund of $300 of his 2016 State income taxes and a 2016 Federal tax refund of $400.
Other sources of income:

Required: Compute Ralph's 2016 gross income.

Question

Summary Problem: Ralph,age 44,is an account executive for Cobb Advertising,Inc.Ralph's annual salary is $90,000.Other benefits paid by Cobb Advertising were:
In addition to the benefits above,Cobb Advertising has a qualified pension plan into which employees can contribute (and Cobb matches)up to 5% of their annual salary.Ralph contributes the maximum allowable to the plan.
Ralph has never been able to itemize his allowable personal deductions (i.e. ,he always uses the standard deduction).In 2017,Ralph receives a refund of $300 of his 2016 State income taxes and a 2016 Federal tax refund of $400.
Other sources of income:
  
Required: Compute Ralph's 2016 gross income.

Quizplus · Accepted Answer

The Answer of Summary Problem: Ralph,age 44,is an account executive for Cobb Advertising,Inc.Ralph's annual salary is $90,000.Other benefits paid by Cobb Advertising were:
In addition to the benefits above,Cobb Advertising has a qualified pension plan into which employees can contribute (and Cobb matches)up to 5% of their annual salary.Ralph contributes the maximum allowable to the plan.
Ralph has never been able to itemize his allowable personal deductions (i.e. ,he always uses the standard deduction).In 2017,Ralph receives a refund of $300 of his 2016 State income taxes and a 2016 Federal tax refund of $400.
Other sources of income:
  
Required: Compute Ralph's 2016 gross income.

Summary Problem: Ralph,age 44,is an Account Executive for Cobb Advertising,Inc