Adrian was awarded an academic scholarship to State University for the 2012– 2013 academic year. He received $6,000 in August and $7,000 in December 2012. Adrian had enough personal savings to pay all expenses as they came due. Adrian’s expenditures for the relevant period were as follows:
Tuition, August 2012 |
$3,600 |
Tuition, January 2013 |
3,700 |
Room and board |
|
August–December 2012 |
3,000 |
January–May 2013 |
2,400 |
Books and educational supplies |
|
August–December 2012 |
1,100 |
January–May 2013 |
1,200 |
Determine the effect on Adrian’s gross income for 2012 and 2013.