Question

Last year Lenny had an annual earned income of $58,475. He also had passive income of $1,255, and capital gains of $2,350. What was Lenny’s total gross income for the year?

a.
$58,475
b.
$59,730
c.
$60,985
d.
$62,080

Answer 1

His gross income is $62080

Explanation:

Gross income, in other words, means total income. So if you want to find the gross income, you have to add ALL his earnings together.

$58475+$1255+$2350=$62080

And that is the final answer, since that his is only income earned.

Answer 2

d. $62,080

Explanation:

Annual earned income = $58,475

Passive income = $1255

Capital gains = $2350

Unknown:

Total gross income for the year = ?

Solution:

Gross income is the some of all the income within a given period time.

Gross income = Annual income earned + Passive income + Capital gains

= $58,475 + $1255 + $2350

= $62,080

His gross income is $62,080