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  3. during 2023, rick and his wife, sara, had the foll

During 2023, Rick and his wife, Sara, had the following items of income and expense...

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Accounting

During 2023, Rick and his wife, Sara, had the following items of income and expense to report: Gross receipts from business $400,000 Business expenses 525,000 Interest income from bank savings accounts 8,000 Sara's salary 50,000 Long-term capital gain on stock held as an investment 4,000 Itemized deductions $15,000 Question Content Area a. Assuming that Rick and Sara file a joint return, what is their taxable income (or loss) for 2023? If required, use the minus sign to indicate a loss. Adjusted gross income/loss $fill in the blank 72eac9fbd000057_1 Taxable income/loss $fill in the blank 72eac9fbd000057_2 Question Content Area b. What is the amount of Rick and Sara's NOL for 2023? Rick and Sara's NOL for 2023 is $fill in the

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a. Assuming that Rick and Sara file a joint return, what is their taxable income (or loss) for 2023 ? If required, use the minus sign to indicate a loss. b. What is the amount of Rick and Sara's NOL for 2023? Rick and Sara's NOL for 2023 is \$ X

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