Illustrate what amount of income or loss from the boutique

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Reference no: EM13126232

Richard operates a hair styling boutique out of his home. 300 of the 1,200 square feet of floor space are allocated to the boutique. Other information is as follows:

Gross income from the boutique $10,000
Supplies for the boutique 2,000
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

Reference no: EM13126232

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