posted by Cindy on .
Your fixed expenses are $1,035.65/month and are 36% of your realized income. Use proportions to compute the realized income on your budget.
I am lost please help
36/100 = 1035/I. I = Income.
36I = 100 * 1035.
I = (100*1035) / 36 = $2875. = Income.
The Mannings file a tax return showing $125000 in earned income, $3288 from interest income, and they have a tax credit of 1% of their earned income. They claim 5 exemptions of $2500 each, one head of household exemption of $10500, pre-tax medical deductions of $125 weekly, and a pre-tax retirement contribution of $100 weekly. What is their adjusted gross income?