AP 7.9 (Comprehensive Case Covering Chapters 1 to 7) Ms. Shelly Spring is a 48-yearold widow who works as a course assistant at a local college. In 2022 her salary is $65,000, from which her emp oyer withheld the following amounts. Ms. Spring pays one-half of the total disablity insurance prervium to the group plan, with her employer poying the balance. The plan provides periodic benef it that compensate for lost employment income. She began making payments in 2020 and made payments of $200 in that year, $250 in 2021, and $205 in 2022 . In 2022, because of an oxtended illness, she recelved benefits of $5,600 In addition to her salary, her employer provides her with an allowance of $100 per month for main taining an office in her home. This office is her principal work location. The otfice occupies 15% of her home including a component for common aroas and, in 2022, the oxpenses of the home wore as tollows: M5. Spring has two children and they both live with her. Her daughter. Amy, is 19 years oid and, in 2022. she was in ful-time attendance at the loca universty for eight months of tha yoar. Her tuition fees of $8,200 were pad by Ms. Spring. Amy has net and taxable income of $7,300 for 2022 . She has ogreed to vons for the moximum emount of her tuition credit to ner mother Her son. Mark, is 23 years oid and volunteers at a local youth centre. Athough he has a physical dis:ability, it is not severe enough to qualify for the TTA 118,3 disabilty tax credit. Mark had no income in 2022 The tamilys medical expenses, all of which hove heen paid by Ms. Spring, were as follows: Ms. Spring has two children and they both we with hef. Her daughte, Amy, is 19 years oid and, in 2022, she was in full time attendance of the local universty for eght months of the yoor. Hor fution fees of $8,200 were pa id by Ms. Spring. Any has net and taxable noome of $2300 for 202z. She. has agreed to transior the maximum amount of her tulition credit to her mother. Her son, Mark, is 23 yeazs old and voiunteers at o localyouth centre. Authough he has a physicai ds abily, it is not severe enough to qualily lo the ITA 1183 disability tax credt. Mark had no income in 2022 The Aamily's medical expenses, al of which have beec naid by Ms, Spring. were as followt: At the begining of 2022. Ms. Spring owns two residential fental properties, bosh acquifad in 1907. Oa Jenusiy 1. 2022, the UCC of property A was $166.000 The cost of bis property wis \$245,000, induding $10,000 for the land and \$206,000 for the buiding. Property B had a cost of S426.000, including 5100,000 for the land and 5376,000 for the building. lts Janiary 1, 2022. UCC was $276,000. On June 1, 2022, property A wos sola tor $201,000, ncluding 510,000 for the land and $161,000 tor the building On that same dite, a new res derisat rental property was acpured at a cont of 5322.000 , incliding $75,000 for the land ond $242000 for the buicing in 2022. Ma Soring received rents of 542000 and thad tenta expenses, other than CCA of $2,500 Ms. Spring owns shares of Camdis7 pubic conceries that asid eligive didends of 59.300 in 2022. She also owns shares in a foregn company that paid didonds of C55. 600 . The govemment in the foreign country watheld noome twes of $840. giving Ms. Soring a net amount of $4,760 $426,000, including $100,000 for the land and $326,000 for the building. Its January 1,2022 , UCC was $276,000 On June 1, 2022, property A was sold for $201,000, ncluding $40,000 for the land and $161,000 for the building. On that same date, a new res dential rental property was acquired at a cost of $322,000, including $75,000 for the land and $247,000 for the building. In 2022. Ms. Spring received rents of $42,000 and had renta expenses, other than CCA, of $32,500. Ms. Spring owns shares of Canadian public companies that paid eligible dividends of $9,300 in 2022. She also owns shares in a foreign company that paid dividends of C$5,600. The government in the foreign country withheld income taxes of $840. giving Ms. Spring a net amount of $4,760. Required: Calculate Ms. Spring's minimum 2022 net income, taxable income, and minimum federal income tax payable withous cons deration of any income tax withheld by her employer. Ignore GST/HST \& PST considerations. AP 7.9 (Comprehensive Case Covering Chapters 1 to 7) Ms. Shelly Spring is a 48-yearold widow who works as a course assistant at a local college. In 2022 her salary is $65,000, from which her emp oyer withheld the following amounts. Ms. Spring pays one-half of the total disablity insurance prervium to the group plan, with her employer poying the balance. The plan provides periodic benef it that compensate for lost employment income. She began making payments in 2020 and made payments of $200 in that year, $250 in 2021, and $205 in 2022 . In 2022, because of an oxtended illness, she recelved benefits of $5,600 In addition to her salary, her employer provides her with an allowance of $100 per month for main taining an office in her home. This office is her principal work location. The otfice occupies 15% of her home including a component for common aroas and, in 2022, the oxpenses of the home wore as tollows: M5. Spring has two children and they both live with her. Her daughter. Amy, is 19 years oid and, in 2022. she was in ful-time attendance at the loca universty for eight months of tha yoar. Her tuition fees of $8,200 were pad by Ms. Spring. Amy has net and taxable income of $7,300 for 2022 . She has ogreed to vons for the moximum emount of her tuition credit to ner mother Her son. Mark, is 23 years oid and volunteers at a local youth centre. Athough he has a physical dis:ability, it is not severe enough to qualify for the TTA 118,3 disabilty tax credit. Mark had no income in 2022 The tamilys medical expenses, all of which hove heen paid by Ms. Spring, were as follows: Ms. Spring has two children and they both we with hef. Her daughte, Amy, is 19 years oid and, in 2022, she was in full time attendance of the local universty for eght months of the yoor. Hor fution fees of $8,200 were pa id by Ms. Spring. Any has net and taxable noome of $2300 for 202z. She. has agreed to transior the maximum amount of her tulition credit to her mother. Her son, Mark, is 23 yeazs old and voiunteers at o localyouth centre. Authough he has a physicai ds abily, it is not severe enough to qualily lo the ITA 1183 disability tax credt. Mark had no income in 2022 The Aamily's medical expenses, al of which have beec naid by Ms, Spring. were as followt: At the begining of 2022. Ms. Spring owns two residential fental properties, bosh acquifad in 1907. Oa Jenusiy 1. 2022, the UCC of property A was $166.000 The cost of bis property wis \$245,000, induding $10,000 for the land and \$206,000 for the buiding. Property B had a cost of S426.000, including 5100,000 for the land and 5376,000 for the building. lts Janiary 1, 2022. UCC was $276,000. On June 1, 2022, property A wos sola tor $201,000, ncluding 510,000 for the land and $161,000 tor the building On that same dite, a new res derisat rental property was acpured at a cont of 5322.000 , incliding $75,000 for the land ond $242000 for the buicing in 2022. Ma Soring received rents of 542000 and thad tenta expenses, other than CCA of $2,500 Ms. Spring owns shares of Camdis7 pubic conceries that asid eligive didends of 59.300 in 2022. She also owns shares in a foregn company that paid didonds of C55. 600 . The govemment in the foreign country watheld noome twes of $840. giving Ms. Soring a net amount of $4,760 $426,000, including $100,000 for the land and $326,000 for the building. Its January 1,2022 , UCC was $276,000 On June 1, 2022, property A was sold for $201,000, ncluding $40,000 for the land and $161,000 for the building. On that same date, a new res dential rental property was acquired at a cost of $322,000, including $75,000 for the land and $247,000 for the building. In 2022. Ms. Spring received rents of $42,000 and had renta expenses, other than CCA, of $32,500. Ms. Spring owns shares of Canadian public companies that paid eligible dividends of $9,300 in 2022. She also owns shares in a foreign company that paid dividends of C$5,600. The government in the foreign country withheld income taxes of $840. giving Ms. Spring a net amount of $4,760. Required: Calculate Ms. Spring's minimum 2022 net income, taxable income, and minimum federal income tax payable withous cons deration of any income tax withheld by her employer. Ignore GST/HST \& PST considerations