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Dick owns a house that he rents to college students. Dick receives $800 per month...

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Accounting

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Dick owns a house that he rents to college students. Dick receives $800 per month rent and incurs the following expenses during the year Real estate taxes $1,250 Mortgage interest 1,500 Insurance 425 Repairs 562 Association dues 1,500 Dick purchased the house in 1980 for $48,000. The house is fully deprecated, Calculate Dick's not rental income for the year, assuming the house was rented for a full 12 months Rental income Expenses S Net rental income

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