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Question 1 0.75 pts Gold Corporation, which operates a department store, sells a television to...

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Question 1 0.75 pts Gold Corporation, which operates a department store, sells a television to its employee Howard for $350. The regular customer price is $400, and the gross profit rate is 25%. What is the amount of gross income recognized by Howard? Question 2 0.5 pts Ion Corporation offers its employees (on a nondiscriminatory basis) a choice of any one or all of the following benefits. Benefit Cost $700 Group term life insurance Hospitalization insurance for family members Child care payments 2,800 1,700 $5,200 If a benefit is not selected, the employee receives cash equal to the cost of the benefit. Sarah, an employee, elects to receive the group term life insurance, hospitalization insurance for family members, and $1,700 of cash. How much must Sarah include in gross income

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