For each case listed determine the taxpayers net income for the year and the balances of

any loss carry over provisions. Note, with respect to the farming operations, the taxpayer

expects to make some profit on this operation even though it is not a full time occupation

for him.

Employment Income

CASE 1: 18,000 CASE 2: 15,000 CASE 3: (9,000)

Business Income (Loss)

CASE 1: 14,500 CASE 2: (39,000) CASE 3: 34,000

Farming Income (Loss)

CASE 1: (6,000) CASE: 1,000 CASE 3: (8,000)

Capital Gains

CASE 1: 0 CASE 2: 7,400 CASE 3: 6,300

Capital Losses

CASE 1: (3,600) CASE 2: (5,000) CASE 3: 0

Dividends (Amount Received)

CASE 1: 5,000 CASE 2: 6,638 CASE 3: 8,000

(Other than eligible dividend)