Avery Swan is $30$ years old and single. She is employed as a middle$-$level manager with a national Canadian company. After living and

working for five years in Regina, Saskatchewan, she was transferred to her employer's office in Winnipeg. Manitoba, on December $15,$

$2023.$

Her financial transactions for the $2023$ taxation year are as follows.

Avery receives an annual salary of $$155,000.$ The following was withheld by the employer:

Income tax

Company pension contribution

Canada Pension Plan $($enhanced contribution $$631)$

Employment Insurance

$(47,)$

$(2,209)$

$(3,754)$

$(1,902)$

During the current year, Avery purchased $1,100$ shares of her employer's company $($a public corporation$)$ under a stock$-$option

program. The shares cost $$10$ each and at the time of purchase had a market value of $$14$ per share. When the stock option was

granted two years ago, the share price was $$11.$ To fund the purchase, she borrowed $$10,000$ from her bank. During the year, she

paid interest of $$900$ on the loan.

The previous year, Avery had unwisely invested in commodity futures and lost a large portion of her savings. She considered this

loss to be a business loss but was unable to use the full amount for tax purposes because her other income was not sufficient. Of

the total loss, $$6,600$ is unused.

As well, Avery had the following receipts for $2023.$

Dividends from taxable Canadian corporations $($Eligible$)$

Dividends of $$1,0$ from a foreign corporation, less foreign taxes of $$150$

RRSP withdrawal used to purchase home

First home savings account $($FHSA$)$ withdrawal

Proceeds from the sale of public corporation shares $($originally purchased for $$2,o+)$

$$4,490$

$850$

$35,600$

$8,400$

$28,600$

In $2023,$ she made the following disbursements.

Requlred:

For the $2023$ taxation year, determine the following for Avery:

a$.$ net income for tax purposes

b$.$ taxable income

Paragraph $3($a$)$ Income