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Teri Frazier owned three businesses and rental properties in 2023. During the year, her...

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Accounting

Teri Frazier owned three businesses and rental
properties in 2023. During the year, her hait
salon business experienced a $32,000 net
doss. She participated 200 hours in the hair
salon business. All of the salon's employees
worked more than 600 hours for 2023. Her
second business was a coin-operated laundry.
She did not participate over 100 hours in
the laundry operation. It had a net loss of
$14,500. The third business was a flower shop,
which had net income of $45,000 for 2023.
She participated well over 1,000 hours in the
flower shop business. None of the activities
was located within one-half mile of each
other. She also received dividends of $12,000
from her IBM stock, and interest of $14,000
from her AT& T bonds. In addition, Frazier
had a net loss of $18,000 from her real estate
rentals (where she was an active participant).
Compute her adjusted gross income.
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