Hello! I'm looking for help with the following question. Based on the info below, what are the main adv/disv to incorporate the company?

EXHIBIT 1 ESTIMATED BALANCE SHEET AS AT DECEMBER 31,2020 Bank $ 3,400 Accounts receivable (FMV $21,000) 25,000 Less allowance for doubtful accounts 3.000 22.000 Inventory at cost (FMV $5,000) 4.000 Shares of Public Co., at cost (FMV $2,000) 5,000 Land-Lot 1 at cost (FMV $45,000) 20,000 Land-Lot 2 at cost (FMV $80,000) 60.000 Truck at net book value (Cost $20,000; FMV $13,000) 12,000 Equipment at net book value (Cost $12,000; FMV $6,000) 8.600 $ 135 000 Accounts payable $ 6,000 Proprietor's equity 129.000 $ 135,000 Notes: 1.Rob acquired the lots of land in 2015. His intention is to sell Lot 1 as soon as the FMV exceeds $50,000 and to erect a building for his business on Lot 2. He recently received the building permit and plans to commence construction in the summer of 2021. 2.The undepreciated capital cost is the same as the net book value of the depreciable assets. 3.Rob was recently offered $200,000 for all the assets, including the cash, in his business and believes that this is an acceptable value as at January 1, 2021. 4.Rob's pension and investment income is sufficient to ensure that any additional income will be subject to the 29% federal tax rate. He also has a $2,000 net capital loss carried forward from 2016 which he would like to utilize as soon as possibleIt is now 2020 and your uncle Rob Silva has recently retired from his full-time job. He plans to spend more time on his business, Silva Plumbing Services (SPS), which he started several years ago. Uncle Rob is married with 2 children (ages 15 and 20). The business has grown steadily over the years and Rob has accumulated many assets and investments. He has prepared an Exhibit 1 which estimates SPS's Balance Sheet as at December 31, 2020. You uncle has heard that if he incorporates, he will pay less taxes. Rob currently operates SPS in the unincorporated form and needs to know what issues he should consider in deciding whether or not the business should be incorporated. He anticipates that the business will earn $150,000 for the year ended December 31, 2020 and assumes that the same income will be earned in 2021 within a corporation that will have a December 31 year-end. If the assets of the business are transferred on January 1, 2021 (as per the information presented in Exhibit 1), Rob wants to know how the transfer can be accomplished and the relevant tax implications to ensure that the transfer will be tax-free. He has heard about the ITA 85(1) election He also needs to know what issues he should consider in determining the value at which the assets should be transferred for tax purposes and any other pertinent advice regarding his decision. Finally, he needs you to recommend a great compensation package that would be mutually beneficial from a tax point of view for his company and his family. They need about $60,000 cash annually, to live on