Billy Bremner is a certified professional accountant who operates Bremner Accounting and Tax Services out of the basement of his home. His home address is 967 Major Street Vaughan ON L4T 7T2. He has asked you to help him prepare the T2125 for his 2019 personal tax return and has provided you with the following details regarding his business revenues and expenses for 2019: Amount $85,000 Item Professional income General Expenses: Advertising expense Bad debts expense Insurance expense Interest and bank charges expense Business taxes, licenses & memberships expense Office expenses Office stationery expense Legal and accounting expense 1,500 350 575 360 1,150 700 500 2,350 Billy acquired a Lexus IS 300 RWD for personal and business use on March 22, 2019. The car cost him $46,386.50 ($41,050 + HST). He drove the car 19,640 kilometers during the year, of which 7,856 were for personal use. His total motor vehicle expenses not including CCA, were as follows: Fuel Repairs and maintenance Insurance License and registration Interest on car loan Car washes Parking 2,357 500 1,500 120 628 135 340 Home office expenses: Property tax Utilities Insurance Mortgage interest 7,500 2,150 600 16,200 Home office expenses: Property tax Utilities Insurance Mortgage interest 7,500 2,150 600 16,200 16.67% Business use of home: Business portion 33.33 square metres Entire home 200 square metres In addition to the above home office expenses, Billy purchased the following items for use in his #home office: Desk $ 945 Chair 425 Bookshelf 690 Laptop 2,450 Printer 825 Software 1,815 REQUIRED: Calculate and input all information required to complete the T125, Statement of Business Income and Expenses for Billy Bremner's 2019 personal tax return. Billy Bremner is a certified professional accountant who operates Bremner Accounting and Tax Services out of the basement of his home. His home address is 967 Major Street Vaughan ON L4T 7T2. He has asked you to help him prepare the T2125 for his 2019 personal tax return and has provided you with the following details regarding his business revenues and expenses for 2019: Amount $85,000 Item Professional income General Expenses: Advertising expense Bad debts expense Insurance expense Interest and bank charges expense Business taxes, licenses & memberships expense Office expenses Office stationery expense Legal and accounting expense 1,500 350 575 360 1,150 700 500 2,350 Billy acquired a Lexus IS 300 RWD for personal and business use on March 22, 2019. The car cost him $46,386.50 ($41,050 + HST). He drove the car 19,640 kilometers during the year, of which 7,856 were for personal use. His total motor vehicle expenses not including CCA, were as follows: Fuel Repairs and maintenance Insurance License and registration Interest on car loan Car washes Parking 2,357 500 1,500 120 628 135 340 Home office expenses: Property tax Utilities Insurance Mortgage interest 7,500 2,150 600 16,200 Home office expenses: Property tax Utilities Insurance Mortgage interest 7,500 2,150 600 16,200 16.67% Business use of home: Business portion 33.33 square metres Entire home 200 square metres In addition to the above home office expenses, Billy purchased the following items for use in his #home office: Desk $ 945 Chair 425 Bookshelf 690 Laptop 2,450 Printer 825 Software 1,815 REQUIRED: Calculate and input all information required to complete the T125, Statement of Business Income and Expenses for Billy Bremner's 2019 personal tax return