Mr. Smith's annual salary is $230,000.  He has been on his job for the past four years.  His current pay stub from 6/30 of this year shows YTD gross income of $113,712, the previous year's W-2 shows $210,549 AND the year before that his W-2 shows $198,782. What is the base monthly income you would put on the loan application?

Mr. Smith's annual salary is $230,000.  He has been on his job for the past four years.  His current pay stub from 6/30 of this year shows YTD gross income of $113,712, the previous year's W-2 shows $210,549 AND the year before that his W-2 shows $198,782. What is the base monthly income you would put on the loan application?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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