At the beginning of 2020, Joanne Chance had the following loss carry forwards available:

Restricted Farm Losses $ 7,200

Non-Capital Losses 41,000

Net Capital Losses [(1/2)($50,000)] =25,000

During 2020, she had the following amounts of income:

Taxable Capital Gains = $ 10,500

Business Income = 14,200

Employment Income = 61,000

Farm Income = 2,950

Determine Joanne's Net Income For Tax Purposes, as well as her minimum Taxable Income for 2020. Indicate the amount and type of any lossesavailable for carry forward at the end of the year. Ignore any deductible CPP.

Joanne needs $30,000 of taxable income for 2020 to use up her non-refundable tax credits. Where possible, Joanne would like to use up her restricted farm losses first, then her net capital losses and finally her non capital losses.