Coretta Kirkman is the sole proprietor of an unincorporated business that sells security related products to both retail customers and to building contractors. The business began operations on January $1,2020.$

The business will use a December $31$ end.

The following information relates to the year ending December $31,2020$:

$$ Cash sales of delivered merchandise total $$375,000.$

$$ Account sales of delivered merchandise total $$130,000.$

$$ As of December $31,$ uncollected Accounts Receivable balances total $$55,000.$ Coretta expects $$6,000$ of the accounts to become uncollectible.

$$ Coretta's business receives payments of $$36,000$ for merchandise to be delivered in $2021.$

$$ During $2020,$ Coretta's business installs a comprehensive security system in a $462$ unit condominium development. The gross profit on this sale was $$12,500.$ Because of the size of the contract, Coretta agrees to accept payment in three instalments as follows:

$2020$

$$23,000$

$2021$

$32,000$

$2022.$

$18,000$

Total Contract Price

$$73,000$

The following information relates to the year ending December $31,2021$:

$$ A total of $$5,800$ of accounts receivable were written off during the year.

$$ All of the merchandise on which $2020$ deposits were received was delivered.

$$ The $$32,000$ instalment on the condominium project was received.

$$ Sales of delivered merchandise and services totaled $$520,000,$ with $$150,000$ of this amount being on account. As of December $31,$ $$52,000$ of the account sales had not been collected. Coretta anticipates that $$7,500$ of these outstanding accounts will not be collectible.

$$ In addition to sales of delivered merchandise, the business received deposits on orders in the amount of $$29,000.$ This merchandise is scheduled to be delivered in early $2022..$

Required: How would the preceding information affect the calculation of Coretta Kirkman's business income for the $2020$ and $2021$ taxation years? Include the full details of your calculations for each year, not just the net result for each year. Ignore GST$/$PST implications.