can anyone help me with this problem? just note this is not a test question. it is a question from the textbook. I was given the answer already but i forgot to save it and now i need to study but cant remember the answer for this.

9. Repair and maintenance costs: 10. Travel costs (incurred for sales personnel): 11. Advertising and promotion costs: The financial information shown in the following table was presented for Parker Ltd. for the year ended May 31,2023. 5. Interest expense includes interest of $8,000 on a bank loan that was used to purchase new equipment during the previous year. In addition, \$1,000 of interest arising from deficient income tax instalments was paid to the CRA. 6. Insurance expenses: 7. Appraisal costs: \begin{tabular}{l} To determine the replacement cost of business assets to establish the current year's fire and theft insurance requirements \\ To value the assets of the business in order to establish the company's share value so that the shareholder could use the \\ shares as collateral for a personal bank loan \\ \hline \end{tabular} 8. Legal and accounting expenses: Additional information (all related to the statement of income): 1. Cost of sales: The closing inventory at the end of the previous year was valued at the lower of cost or market, which amounted to $270.000, 2. The salaries and wages of $232,000 include salaries of $95,000 to the president, $80,000 to the president's spouse (who works as a full-time manager), and $15,000 to a full-time housekeeper who looks after the children so that the president and the president's spouse can work full-time in the business. 3. Management bonuses: A. Fmnlmue hanefite- 11. Advertising and promotion costs: 12. The bad debts expense of $36,000 represents an increase in the reserve for doubtful accounts receivable arising from the sale of merchandise. 13. As a result of past experience, the company began a new policy of providing a reserve of $% of sales for expected future returns of defective merchandise sold. Although the year's provision was $17,000, only $12,000 of merchandise was returned. 14. The depreciation/amortization expense of $16,000 is based on the estimated useful life of depreciable property owned (equipment and vehicles). Capital cost allowance for tax purposes has been correctly calculated as $19.000 in total. 15. The loss on sale of securities resulted from the sale of shares in public corporations. These were acquired several years earlier using excess funds not needed for the business. 16. The net gain on the sale of land of $40,000 consists of the following: - Property 1, which was acquired three years earlier at a cost of $100,000 as a potential site for a new head office building. New leased space became available, thus eliminating the need for a new building. Because of this, the land was sold at the market price of $160,000. - Property 2 , which was purchased four years earlier with excess corporate funds after it was learned that a new shopping centre was being planned for the area. The company believed that the new shopping centre would enhance property values and purchased the land at a cost of $90,000 in the hope that it could be sold at a substantial profit. The shopping centre proposal was cancelled and the land was sold in the current year for $70,000. Required: (a) For the year ended May 31, 2023, determine the company's business income for tax purposes, (b) Determine the company's overall net income for tax purposes in accordance with the aggregating formula. 9. Repair and maintenance costs: 10. Travel costs (incurred for sales personnel): 11. Advertising and promotion costs: The financial information shown in the following table was presented for Parker Ltd. for the year ended May 31,2023. 5. Interest expense includes interest of $8,000 on a bank loan that was used to purchase new equipment during the previous year. In addition, \$1,000 of interest arising from deficient income tax instalments was paid to the CRA. 6. Insurance expenses: 7. Appraisal costs: \begin{tabular}{l} To determine the replacement cost of business assets to establish the current year's fire and theft insurance requirements \\ To value the assets of the business in order to establish the company's share value so that the shareholder could use the \\ shares as collateral for a personal bank loan \\ \hline \end{tabular} 8. Legal and accounting expenses: Additional information (all related to the statement of income): 1. Cost of sales: The closing inventory at the end of the previous year was valued at the lower of cost or market, which amounted to $270.000, 2. The salaries and wages of $232,000 include salaries of $95,000 to the president, $80,000 to the president's spouse (who works as a full-time manager), and $15,000 to a full-time housekeeper who looks after the children so that the president and the president's spouse can work full-time in the business. 3. Management bonuses: A. Fmnlmue hanefite- 11. Advertising and promotion costs: 12. The bad debts expense of $36,000 represents an increase in the reserve for doubtful accounts receivable arising from the sale of merchandise. 13. As a result of past experience, the company began a new policy of providing a reserve of $% of sales for expected future returns of defective merchandise sold. Although the year's provision was $17,000, only $12,000 of merchandise was returned. 14. The depreciation/amortization expense of $16,000 is based on the estimated useful life of depreciable property owned (equipment and vehicles). Capital cost allowance for tax purposes has been correctly calculated as $19.000 in total. 15. The loss on sale of securities resulted from the sale of shares in public corporations. These were acquired several years earlier using excess funds not needed for the business. 16. The net gain on the sale of land of $40,000 consists of the following: - Property 1, which was acquired three years earlier at a cost of $100,000 as a potential site for a new head office building. New leased space became available, thus eliminating the need for a new building. Because of this, the land was sold at the market price of $160,000. - Property 2 , which was purchased four years earlier with excess corporate funds after it was learned that a new shopping centre was being planned for the area. The company believed that the new shopping centre would enhance property values and purchased the land at a cost of $90,000 in the hope that it could be sold at a substantial profit. The shopping centre proposal was cancelled and the land was sold in the current year for $70,000. Required: (a) For the year ended May 31, 2023, determine the company's business income for tax purposes, (b) Determine the company's overall net income for tax purposes in accordance with the aggregating formula