determine Ms. Borel ' s minimum Net income for the tax purposes for the year ending December 31,2016. Ignore GST/HST/PAT considerations and the need to make CUP contributions by Ms. Borel

m tb: D' "..'E 2 E E E E E 1 l C ' Assignment Problem Seven - 6 x/ (Busmess Inclome And Iniggs'ffillllgwsylesr)who specializes in real estate transa Ms. Janee Bore is a very suc practices in British Columbia's lower mainland. Relevant information on her practice for the taxation year ending December 31' 201 follows: is Cti : 1 Unbilled Work In Progress $ 33,500 balllgglg Hours (1,840 Hours At $300) 552,000 December 31 Unbilled Work In Progress 27,600 Office Supplies And Office Expenses 31,462 Rent For Office And Equipment 71000 Business Meals And Entertainment 24l650 wb . While she rents all of her office equipment, including computer equipment, she 0 furniture and fixtures in her office. At the beginning of the year the Class 8 UCC balan..-;5' $27,648. During the year she replaces items that had an original capital cost of $18,0059,;5. new items cost $31,500. She received a trade in allowance of $5 ,000 for the replacedi :' . in addition to her professional income, Ms. Borel owns 4,100 units 0 These units were acquired on December 31, 2015 ata cost of $27 per unit. During 20 received a distribution of $2.75 per unit, of which $1 .20 was a return of capital remainder was property Income. The entire distribution was reinvested ata price ofSF per unit. "is t .s' fDundor Income: 1 uses the billed basis A in each year. . ---- Behndar.s provincial? ' of her a r' l her inheri. 30 percent? '. RequireMZ-I dispositia-p " cost base ' resulting