For 2011, your other clients own a real estate business named Terry Smith Realty, of 645 Grove Street, Los Angeles, CA 90018. Gross receipts were $730,000 using the cash method of accounting.
• Advertising $5,000
• Professional dues 800
• Professional journals 200
• Employee wages 45,000
• Insurance on office contents 1,120
• Accounting services 2,100
• Miscellaneous expense 500
• Utilities 3,360
• Payroll taxes 3,600
• Depreciation 1,000
Required: Prepare a 2011 Schedule C.