It is March of 2021 and you are about to prepare the 2020 tax return for Chelsea Lee. Your meeting with Chelsea has provided the following information: Chelsea is thirty years old, divorced, and has an eight-year-old child from a former marriage. Child support payments from Chelsea are $500 a month. Chelsea lives in Cornwall, and is a salesperson for Tri-scope Inc.. The earnings from the job include a base salary of $6,000 per month plus a commission of 1% on the sales Chelsea makes in the month, which were $50,000 every month in 2020. Chelsea moved to Cornwall from Bermondsey on December 1, 2019 due to a promotion with Tri-scope. Chelseas tax deductible moving expenses totaled $9,500, and there was no reimbursement from Tri-scope. $4,500 of this expense was accurately claimed on the 2019 tax return. Chelsea took out a $120,000 mortgage to purchase a new home in Moncton. The total interest payments were $8,400 in 2020. Chelseas personal vehicle is used to perform the work duties, and Chelsea pays for the expenses with no reimbursement from Tri-scope. However, an allowance of $400 is received each month which is treated as unreasonable for tax purposes. Chelsea purchased a new car in 2019 which is used seventy-five percent of the time for business purposes. The undepreciated capital cost of the vehicle at the beginning of 2020 was $28,000. Total costs to operate the vehicle are $800 per month. Interest expense on the car loan is $200 per month. Chelsea spends $300 per month on fashionable clothing for work, and $500 per year on a new cell phone. The cell phone bill is $80 per month, of which seventy-five percent is for employment use. Chelsea takes files home from the office at the end of the day and reviews the sales calls in a home office. The files are then returned to the office at Tri-scope in the morning prior to leaving for the day to make sales calls. Chelseas monthly total expense for the home insurance, property taxes, maintenance, and utilities is $1,000. The home office occupies ten percent of the square footage in the home. Chelsea maximizes RRSP contributions each year. The 2019 Notice of Assessment showed RRSP room of $12,000. Earned income was $42,000 in 2019 which consisted of $6,000 in commissions. Tri-scope does not have a registered pension plan. CPP for enhanced contribution is $166. Required: A.Calculate Chelseas minimum net income & Tax for tax purposes for 2020. Use the aggregating formula from Section 3 of the Income Tax Act to show your answer (40 marks). B.Indicate why any items have been omitted from your calculations (10 marks). (Work must be shown for marks to be awarded.)