Classify the following items as ordinary income, a gain, or an exclusion: a. The gross revenues of..

Classify the following items as ordinary income, a gain, or
an exclusion:

a. The gross revenues of $160,000 and deductible expenses of
$65,000 of an individual’s consulting business

b. Interest received on a checking account

c. Sale for $8,000 of Kummel Corporation stock that cost
$3,000

d. Receipt of $1,000 as a graduation present from
grandfather

e. Royalty income from an interest in a gold mine