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I need help with the red boxes (they are wrong), the rest is correct! George Gingero is a one-third partner in Sweet Tooth, a restaurant

I need help with the red boxes (they are wrong), the rest is correct!

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George Gingero is a one-third partner in Sweet Tooth, a restaurant that specializes in desserts. George maintains a full-time job and earns a salary of $250,000. In the evenings and on weekends, he works at the restaurant, as do the other partners. The partnership year-end is December 31. The financial results for 2022 and other information is provided below. 1. The amortization expense relates to the restaurant's equipment. At the end of the previous year, the undepreciated capital cost of the class 8 equipment was $32,000, and of the class 53 equipment was $22,000. 2. During the year, George receives cash distributions of $15,000 from the partnership. In addition, the donations paid by the partnership are designated one-third to each partner. 3. One of the other partners recently offered to buy George's partnership interest for $100,000. George refused the offer as he plans to continue working in the restaurant. The partnership's accountant informed George that the adjusted cost base of his partnership interest is $45,000 on January 1, 2022. Required: 1. Calculate George's net income for tax purposes for the 2022 taxation year. You will first need to compute the total net income earned by the Partnership before any allocation of income to the partners. Enter all amounts, including deductions, as positive numbers. Round to the nearest whole number. 2. Assume that revised information has come to light regarding the partnership income and you have recalculated George's 2022 net income for tax purposes to consist of the following: There was no change to any expenses incurred in the partnership. Calculate George adjusted cost base (ACB) at January 1, 2023. Enter all amounts, including deductions, as positive numbers

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