E 1 Apply the concept of income for purposes of Part 1 Tax. 23 2 3 The following two Cases make different assumptions with respect to the amounts of income and deductions of Mr. Burke for the current taxation year. 4 Employment Income Income (Loss) From Business 5 Income From Property 6 Taxable Capital Gains 7 Allowable Capital Losses Subdivision e Deductions (Spousal Support) Case A Case B $56,000 $34,500 30.000) (22,500) 10,000 21,000 22,000 19,000 (37.000) (12,000) 15.500) (15,500) 8 9 Required: For both Cases, calculate Mr. Burke's Net Income Eat Tax Purposes (Division B income). Indicate the amount and type of any loss carryovers that would be available at the end 10 of the current year. 11 F