A. B. C. part are to be done information given above required.
Mabel was born on Jan 15,1980 and is employed in production work by a large public company.Her annual salary is $85,500 in 2020, none of which involves commissions. As the company was very successful during 2020, Mabel has been provided with a $10,000 bonus. This bonus was paid $5,000 in December 2020, and the rest in February 2021. max Mabel's employer withheld maximum El premiums and CPP contributions, along with $15,000 in federal income taxes. Other amounts withheld by her employer are as follows: CPP/EI I RPP Contributions $4,300 Union Dues Mabel's spouse is Bruce. Bruce was born on Feb 5, 1975 and is legally blind. Bruce has 2020 income from investments of $750. 450 Mabel and Bruce have three sons. Information on these sons is as follows: Dareen Birth date Mar 3, 2005, in good health, and has income from part time jobs of $6,500. Daniel Birth date Apr 8, 2002 and has serious breathing problems that prevent him fromworking on a full time basis. He has got a doctor's letter attesting that his condition is serious but hedoes not have a "marked" restriction of daily activities. He lives with Mabel and Bruce and has income from part time jobs of $4,000. He attends university on a full time basis for 8 months of the year. He would like to transfer his tuition credit to Mabel. Derek Birthdate May 15, 2000 He lives at home and is in good health. He has a full time job, and earns $30,000 per year. Other Information: 1. During 2020, Mabel spent $12,300 on employment related meals and entertainment with clients of her employer. Her employer reimbursed $6,150 of these costs. 2. During 2020, Mabel makes her regular annual contribution of $2,000 to a registered charity, The Shepherds Of No Hope. (Mabel is a very pessimistic individual.) 3. The family's 2020 medical expenses, all of which were paid by Mabel, were as follows: Mabel and Bruce Darren Daniel Derek $ 2,200 1,700 10,600 4,500 4. Mabel received options to purchase 500 shares of her employer's stock at a price of $45 per share 2years ago. At the time the options were granted, the market price of the shares was $45 per share. During July, 2020, when the shares are trading at $60 per share, Mabel exercises all of these options. She is stillholding these shares on December 31, 2020. 5. Mabel is provided with an automobile by her employer. The automobile was purchased at a cost of $55,200, including HST at 13 percent. During 2020, the automobile is driven 48,000 kilometers, of which 37,000 were employment related. The automobile was used by Mabel for 11 months during 2020. She was required to return the automobile to her employer's garage during the month that she did not use it. 6. During 2020, Mabel receives several gifts from her employer: In recognition of her 10 years of service, Mabel receives an engraved wrist watch. The retail value ofthis watch is $700. At Christmas, all of the company's employees receive a gift box of vintage wines. The retail value of these wines is $400. A Required: A. Create a profile file, for Mabel. B. Determine Mabel's minimum Net Income and taxable income for the 2020 taxation year. C. Based on your answer in Part B, determine Mabel's federal Tax Payable and amount owing(refund) for the 2020 taxation year. all are the file!! Then, you must create a PDF file (you Mabel was born on Jan 15,1980 and is employed in production work by a large public company.Her annual salary is $85,500 in 2020, none of which involves commissions. As the company was very successful during 2020, Mabel has been provided with a $10,000 bonus. This bonus was paid $5,000 in December 2020, and the rest in February 2021. max Mabel's employer withheld maximum El premiums and CPP contributions, along with $15,000 in federal income taxes. Other amounts withheld by her employer are as follows: CPP/EI I RPP Contributions $4,300 Union Dues Mabel's spouse is Bruce. Bruce was born on Feb 5, 1975 and is legally blind. Bruce has 2020 income from investments of $750. 450 Mabel and Bruce have three sons. Information on these sons is as follows: Dareen Birth date Mar 3, 2005, in good health, and has income from part time jobs of $6,500. Daniel Birth date Apr 8, 2002 and has serious breathing problems that prevent him fromworking on a full time basis. He has got a doctor's letter attesting that his condition is serious but hedoes not have a "marked" restriction of daily activities. He lives with Mabel and Bruce and has income from part time jobs of $4,000. He attends university on a full time basis for 8 months of the year. He would like to transfer his tuition credit to Mabel. Derek Birthdate May 15, 2000 He lives at home and is in good health. He has a full time job, and earns $30,000 per year. Other Information: 1. During 2020, Mabel spent $12,300 on employment related meals and entertainment with clients of her employer. Her employer reimbursed $6,150 of these costs. 2. During 2020, Mabel makes her regular annual contribution of $2,000 to a registered charity, The Shepherds Of No Hope. (Mabel is a very pessimistic individual.) 3. The family's 2020 medical expenses, all of which were paid by Mabel, were as follows: Mabel and Bruce Darren Daniel Derek $ 2,200 1,700 10,600 4,500 4. Mabel received options to purchase 500 shares of her employer's stock at a price of $45 per share 2years ago. At the time the options were granted, the market price of the shares was $45 per share. During July, 2020, when the shares are trading at $60 per share, Mabel exercises all of these options. She is stillholding these shares on December 31, 2020. 5. Mabel is provided with an automobile by her employer. The automobile was purchased at a cost of $55,200, including HST at 13 percent. During 2020, the automobile is driven 48,000 kilometers, of which 37,000 were employment related. The automobile was used by Mabel for 11 months during 2020. She was required to return the automobile to her employer's garage during the month that she did not use it. 6. During 2020, Mabel receives several gifts from her employer: In recognition of her 10 years of service, Mabel receives an engraved wrist watch. The retail value ofthis watch is $700. At Christmas, all of the company's employees receive a gift box of vintage wines. The retail value of these wines is $400. A Required: A. Create a profile file, for Mabel. B. Determine Mabel's minimum Net Income and taxable income for the 2020 taxation year. C. Based on your answer in Part B, determine Mabel's federal Tax Payable and amount owing(refund) for the 2020 taxation year. all are the file!! Then, you must create a PDF file (you
