It is now January 3, 2023. You, CPA, will be meeting with a new client, Bash Wilson. Bash requested you to prepare his 2022 personal tax return.

After a meeting with Bash, you have obtained the following information:

1) Bash was employed in a public corporation. For the calendar year 2022, his gross employment income was $130,000. During the year, he was required to travel to Singapore attending a corporate meeting. However, Bash decided to bring his wife, who is not an employee of the company. The total trip cost $8,000 and it was fully paid by the company. The value of the trip can be evenly attributed to both Bash and his wife.

2) In Year 2019, Bash was granted an option to acquire 100 shares from the companys treasury at a price of $25 per share. During that period, the shares were trading on the stock market at $20 per share. In beginning of 2022 when the share was trading at $40 per share, Bash exercised the option and acquired 100 shares. In December 2022, Bash sold all the shares for $46 per share.

3) Bash purchased a $100,000 bond on its issue date, October 1, 2021. The bond pays interest 5% compounded annually. Bash told you that he has not reported any interest income yet since the interest will be fully paid when the bond matures on September 30, 2026.

4) During 2022, Bash had a garage sale where he disposed many of his personal properties. He provided you the following listing of the items that were sold:

	Proceed	Cost
A limited edition of an old camera	$1,300	$800
Stamp collection	6,500	1,200
Furniture	800	5,300
Clothing	200	800
Art collection	2,200	450

5) Bash has 2 rental properties. The gross rental income for the year 2022 was $30,500. However, he has incurred cash expenses for property taxes, maintenance, interest, and insurance of $15,600.

He has been taking CCA deduction against his rental income. He has provided you with the following information:

	Property #1	Property #2
Cost	$250,000	$260,000
UCC as of Dec 31, 2021	188,000	155,000

In December 2022, Bash sold Property #1 for $400,000

6) Bash informed you that he has loaned $10,000 on January 1, 2020 to a small business corporation, which is owned and operated by a friend. The loan bears interest 5% per annum. Bash did not receive any interest payment for year 2020 and 2021 but he reported them on his tax return. By December 31, 2022, it was established that the loan was bad and Bash would not be able to recover any of the principal amount or the interest.

Required:

Calculate Bashs net income for tax purposes for the 2022 taxation year in accordance with the aggregating formula of Section 3 of the Income Tax Act.