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Barbara Legault operates a full-time law practice in southwestern Ontario. In her spare time, she creates and sells crystal necklaces at various fairs and festivals.

Barbara Legault operates a full-time law practice in southwestern Ontario. In her spare time, she creates and sells crystal necklaces at various fairs and festivals. In addition, she derives income from various investments and is an art collector. Below are her financial results for 2022.

Net income from law practice

$ 97,000

Income from crystal business

12,500

Gross rents received on rental property

28,000

Operating expenses on rental property before capital

cost allowance

Eligible dividends received from public corporations (38%) Interest paid in the year on a loan used to invest in shares

37,000

4,000

2,000

Gain on sale of shares of public corporations

80,000

Loss on sale of shares of a small business corporation

20,000

Loss on sale of shares of a public corporation

14,000

At the end of 2022, the following tax accounts existed:

Net capital losses

7,000

Required:

i) What is Legaults taxable income for 2022?

ii) Compute Legaults Federal Tax Payable before credits

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