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In: AccountingMargaret started her own business in the current year and willreport a profit for her...Margaret started her own business in the current year and willreport a profit for her first year. Her results of operations areas follows:Gross income$45,000Expenses:Travel$1,000Contribution to Presidential Election Campaign$100Transportation(5,725 miles evenly throughout the year, using standard mileagemethod)?Entertainment in total$4,200Nine gifts at $50 each$450Rent and utilities for apartment in total$10,500(25% is used for a home office)Complete the table below to determine the net income Margaretshould show on her Schedule C.If an amount is zero, enter "0". If required, round theamounts to the nearest dollar.Gross income$Expenses:Travel$Political contribution Transportation Entertainment Gifts Rent and utilities Total expenses$Taxable business income$