IN $2023,$ Valerie Arnold carried on a business as a sole proprietor. Her $2023$ business income, determined using accounting principles $($ASPE$),$ is $$140,823.$ The business uses a calendar$-$based fiscal period $($January $1$ to December $31).$ Information related to the business is as follows:

$$ As a result of meetings with various clients and suppliers, Valerie incurred meal and entertainment expenses of $$7,250.$ This amount was deducted in determining accounting business income.

$$ Amortization in the amount of $$21,350$ was deducted in the determination of accounting business income. Maximum CCA, which Valerie intends to claim, was determined to be $$29,730.$

$$ In $2023,$ the business sold depreciable property that had a capital cost of $$65,000.$ On January $1,2023,$ the carrying value of the property for accounting purposes was $$51,000$ and the UCC balance of the respective CCA class was $$43,248.$ The depreciable property was sold for $$35,000.$ It was the only property in the class and no additions were made to the class in $2023.$

At the beginning

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Required:

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Other Information

Other information required to complete Valerie's $2023$ income tax return is as follows:

$1.$ At the beginning of $2023,$ Valerie had unused RRSP deduction room of $$8,400.$ She had made contributions of $$9,300$ on February $27,2023,$ that she forgot to claim in her $2022$ income tax return. She would like to claim that RRSP contribution on her $2023$ income tax return rather than going through the process of amending her $2022$ income tax return.

$2.$ In $2023$ she earned the following amounts of property income and realized the following capital gains and capital losses:

AP $10-8$

Family

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Interest income on her savings account

Capital gains from the sale of personal property

Capital losses from the sales of shares

Eligible dividends received

$

$($

$960$

$29,400$

$7,600)$

$5,650$

$3.$ She received royalties of $$9,340$ in $2023$ on a Study Guide she had written for a university course.

$4.$ She paid spousal support in $2023$ of $$18,000.$

Required:

A$.$ Calculate Valerie's minimum $2023$ net income before any RRSP deduction. Ignore CPP contributions in your$$calculations$.$