A real estate broker reported the following business income and expenses for the current year:
Commission income
Expenses:
Auto rentals
Referral fees to other brokers (legal under state law)
Referral fees to nonbrokers (illegal under state law)
Parking fines
$100,000
2,000
20,000
8,000
200
What amount should be reported as net profit on Schedule C, Profit or Loss from Business?
? ?. $69,800
O ?. $70,000
OC. $77,800
OD. $78,000