Irenes 2022 income and expenses were as follows:

Employment income $ 102,000 Deductible employment expenses $8,500

Business income $26,750 Deductible business expenses $44,940

Rental income $ 24,500 Deductible rental expenses $18,900

Dividends required to be included in income $ $15,000 Interest on loan to purchase the shares $1,000

Taxable capital gains $48,000 Allowable capital losses $39,000

Allowable business investment loss (ABIL) of $44,000

REQUIRED: Determine Irenes income for the 2022 year. Follow the ITA 3 format (paragraph 3a, 3b, 3c, and 3d). Show all your work. Indicate whether there are any loss carryovers.