CONSTRUCT Ltd. is a Canadian-controlled private corporation, operating a small gift store in Malton. The company has a December 31st year-end. CONSTRUCT's financial statements reported net income before taxes of $345,000 in 2020. Financial information relating to 2020 is as follows: The company hired a contractor to landscape the land. The $8,000 bill for the landscaping was paid in full during the year and capitalized on SEA's Balance Sheet. During the year, a new display case worth $3,000 was purchased and expensed on the books. Amortization expense of $45,000 was deducted during the year. Total CCA (following any adjustments) for the year was $32,000 and is not reflected in the financial statements. The following were also expensed during the year: Meals with clients Lawn mowing service Golf dues for employees A reasonable reserve for bad debt $2,400.00 $2,000.00 $9,000.00 $5,000.00 On December 30th, CONSTRUCT's president announced a bonus to be paid to the company's key employee in the amount of $12,000, which was expensed on the books that day. The employee will receive the bonus in 2021 in equal payments of $6,000, to be issued on January 30th and July 30th. Required: a. Determine CONSTRUCT Ltd.'s net income for tax purposes for 2020. (11 marks) Item Amount Taxable Business Income b. Identify and explain why you omitted certain items or why you did not fully expense particular items. Must show at least four for full marks. (4 marks)