question content areawilliam, a cash-basis sole proprietor, had the following receipts and disbursements for the current year: gross receipts $50,000 cost of sales 30,000 other operating expenses 5,000 personal medical expenses 600 for the current year, what amount should william report as net profits from his business? a.$14,000 b.$15,000 c.$13,400 d.$20,000 e.none of these choices are correct.