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If the owner reports 42500 of gross income what is your

You are investigating possible hidden income in a divorce dispute involving an automobile repair shop with ?ve bays. There are ?ve mechanics, charging approximately $60 per hour for 7 hours per day. Assume 315 days worked with each person's wage of $30 per hour for 8 hours. Compute gross pro?t per year. If the owner reports $42,500 of gross income, what is your opinion? Show your calculations first below followed by your opinion below.

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Accounting Basics: If the owner reports 42500 of gross income what is your

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