Izumi Tanaka is employed by TSK Inc., a public Canadian corporation. The following information pertains to the tax year in question: Izumi earned $90,000 from TSK. A cash bonus of $8,000 was announced on December 3^rd, of which $2,000 was paid by December 31^st and Izumi paid the balance on January 10^th of the following year. Izumi was provided with a company car for the entire year. The cost of the car (including taxes) was $40,000. All operating costs were paid by TSK. Izumi drove the car 21,000 kilometers in 2020. 10,000 kilometers were for personal use. Izumi and TSK each contributed $2,000 towards Izumi's registered pension plan. Izumi was presented with a watch from TSK, valued at $200, as a birthday gift. TSK provided Izumi with a $200 cell phone to be used for business purposes. In January, Izumi was granted a stock option to purchase 2000 shares in TSK at a cost of $8.00 per share. At that time, the fair market value per share was $9.00. Izumi exercised the option in February when the market value had risen to $9.50 per share. Izumi took a $15,000 low-interest loan from TSK on January 1^st, with a 1% interest rate. The CRA's prescribed rate during the year was 3%. TSK provided Izumi with a $25 meal allowance every week due to the two hours of overtime that was required to work each Wednesday immediately following eight hours of regular work. An annual union due of $850 was deducted from Izumi's pay in 2021. Required:

A) Calculate Izumi's minimum employment income for tax purposes in accordance with Section 3 of the Income Tax Act. B) Identify any items that have been omitted in your calculations, and briefly explain why.