Carol Basque is an experienced lawyer who has not incorporated her professional practice. She doesn't trust accountants as she was married to two of them (not at the same time). She operates her practice out of a building which she purchased several years ago for $725,000. Of this total, it is estimated that $175,000 reflects the value of the land. It was a new building when she acquired it, her practice uses 100 percent of the building, and it was allocated to a separate Class 1. On January 1, 2020, the building has a UCC of $447,831.

As her practice specializes in cases where lack of anger management has caused legal difficulties, she has had to replace her office furniture several times. The latest was during 2020, when the divorcing owners of a martial arts club could not come to a peaceful resolution to an asset split. A registered charity, Ex-Cons R Us, hauled her destroyed furniture away to be used for training purposes and as spare parts in their furniture repair shop.

The old furniture had a capital cost of $53,000 and a January 1, 2020, UCC of $38,160. She acquires new furniture and fixtures at a cost of $78,000.

In January 2018, Carol acquired a $92,000 Lexus that she uses largely for business purposes. She has concluded that, given the nature of her clientele, this car appears too luxurious. Based on this view, she trades it in on the purchase of a $28,000 Toyota. The January 1, 2020, UCC for the Lexus is $17,850.

Because the vehicle had been badly damaged by an existing client who lost his case, the trade-in allowance that she receives is only $22,000. During 2020, the Toyota is driven 41,000 kilometers, only 3,000 of which were for personal use. The operating costs for the year were $6,150.

Other asset acquisitions during 2020 are as follows:

New Computer $ 1,250

Applications Software 1,475

Client List from Retiring Lawyer 32,000

Other 2020 costs of operating her business, determined on an accrual basis, are as follows:

Building Operating Costs $27,300

Payments To Assistants (Note*) 46,100

Miscellaneous Office Costs 13,600

Meals With Clients 15,500

*Note The payments include $25,000 paid to her 17-year-old daughter. She works part time during the school year and full time during the summer doing online research for Carol's practice.

During 2020, the revenues of Carol's practice total $297,800.

Required: Calculate the minimum net business income Carol would include in her 2020 personal income tax return. In preparing your solution, ignore GST and PST implications and her CPP liability.

Thank you in advance