About five years ago, Isabelle, Eden, Samara, and Joy formed a partnership to carry on a snow

removal and landscape business. All the partners, except Isabelle, made an initial contribution of

$$50,000.$ Isabelle made an initial contribution of $$90,000.$ Each agreed to share in the profits and losses

of the business as follows: $20\%$ to each of Samara, Joy & Eden and $40\%$ to Isabelle based on contribu$-$

tions of capital and labour to the partnership. At the end of the $2022$ fiscal year of the partnership,

Isabelle and Samara decided to go their separate ways. On January $1,2023,$ Samara received $$125,000$

for her partnership interest, while Isabelle received $$250,000.$ The tax records for the five years ended

December $31,2021$ reflected the following cumulative amounts:

Isabelle, $$170,000$; Eden, $$150,000$; Samara, $$250,000$; and Joy, $$160,000.$

Financial results for the year ended December $31,2022,$ are as follows:

Net income per financial statements

Charitable donations $($deducted from accounting income$)$

pr

aver information

$(1)$ Isabelle is single, and has interest income of $$2,500$ for the year $2022.$

$(2)$ Samara has interest income of $$6,600,$ and has made an RRSP contribution in $2022$ of $$2,700$

her $201$ earned income was $$15,000).$

You have agreed to do the following:

$(1)$ Compute the partnership income for the year ended December $31,2022,$ and the income to be

albcated to the partners.

$(2)$ Advise on the tax consequences to Samara and Isabelle as a result of the disposition of their

parmership interests in $2023.$ Compute Samara's and Isabelle's capital gain on the disposition of their

prmership interests on January $1,2023.$

$(8)$ Compute Samara's and Isabelle's taxable income and tax payable for $2022$ using the hypothet$-$

iaal provincial tax rate table presented in Chapter $10,$$$10,250.$