Margaret started her own business in the current year and will report a profit for her first year. Her results of operates a watoto Gross income $45,000 Travel 1.000 Contribution to Presidental Election Campaign Transportation 5.725 miss uning standard mileage method Entertainment in to 4.200 Nine gifts at $50 each Rent and utilities for apartment in total (25% is used for a home 10,500 office) What is the net income Margaret should show on her Schedule C7 Show the calculation of her taxable business income Gross income Expenses (describe each)